If someone could take the hit- so far as penalties and taxes- and cashed out, where would be a good place to put their money?
If they really want CW-II, they can try that.
Said the government flim-flam man with his government scam.
From the article:
“The bureaus core concern is that many Americans, notably those from the retiring Baby Boom generation, may fall prey to financial scams . . .”
I’ve already fallen prey to one financial scam - it’s called Social Security.
By coincidence, it turns out the amount I’ve put in my private retirement account almost exactly matches the amounts contributed by me and my employer in FICA. Yet present projections are that my private account will pay on my retirement almost *twice* what Social Security will - *and* that includes preservation of my principal for my heirs.
The last thing I want is those sharks anywhere near my individual retirement funds.
“The bureaus core concern is that many Americans, notably those from the retiring Baby Boom generation, may fall prey to financial scams”
That’s a line.
Thieves are fair game.
Like that ponzi scheme Social Security!?
never saw this coming... oh wait...
Isn't Cordray one of the recess appointees that the appeals court ruled was invalid? How come this guy is still collecting a paycheck, let alone trying to determine his regulatory power? Does the House have the authority to withhold his salary?
Unaccountable bureaucracies are socialist constructs.
Socialism Is Legal Plunder - Bastiat
BIG GOVERNMENT IS CRONY SOCIALISM
From socialist architect/bureaucratic brianless child to senator...
As big as anything...well...since OBAMACARE!
The socialists are running the table AND we have ZERO representation in Congress.
“Above all, if you wish to be strong, begin by rooting out every particle of socialism that may have crept into your legislation. “ - Bastiat
Americans are being overtaken/looted/plundered/subjugated by coalitions of collectivists - all socialist.
Thanks for posting, Perdogg. BIG SOCIALISM BUMP!
Thanks to all of the tremendous posters at zero hedge and free republic.
They don’t know what authority they have? How vaguely legislated is their mandate? If only we had a left that loved the Constitution.
Consumer Financial Protection Bureau = Coming For Profits, Bub.
This is why they’re coming for the guns first.
You mean scams like Social Security?
Fact is, the government itself is a financial scam!
Yeah, I see how good the government is at managing money. < /sarc>
Let us not forget that Skeeter & Co. are also planning to limit when and how much of your money and/or assets in your 401K and IRA can be taken out by you -
- Skeeter wants to be able to freeze your moneyand/or assets at any time they desire “to protect the economy” and then require that you get permission from them to withdraw any money and/or assets from them -
- Another sneaky stealth scam is that they will require you to pay a 1% penalty on any money and/or assets that they do allow you to withdraw -
- !% fee on your mandatory distributions -
- Penalized if you do not take your minimimum mandatory distributions -
- Penalized if you do take your minimimum mandatory distributions -
- Skeeter has you by the