Suckas.
As a reminder, with the mortgage meltdown there were calls to restrict “predatory employers” and “predatory retirement asset managers” (or some such terms) from letting people invest in too much risky stuff in their 401K’s. Ostensibly to protect us from another stock crash. In reality, forcing us to invest into only a few options.
Pork belly futures?
This is a key quote
“CFO Martin Small said the industry may seek litigation reform before it can expand into the market.”
In other words they will try to sell garbage to investors and when it goes belly up they don’t want to be sued.
Eliminate the income tax and there be no need for 401k accounts ... And many other things as well ...
Citizens can invest the way they want. Every person is responsible for their own investments without big brother limiting their choices for their own good.
Sounds like freedom to me.
Well, who do you think keeps the good private equity deals for their own portfolios? Big hedge funds and major money managers, that’s who.
So what kind of deals do they sell to retail investors? You guessed it, the bad ones. Of course, the really bad ones can be sold to Japanese banks, they’ll fall for anything.
Your employer will still have to approve. I worked with a lady who had worked at a small firm but the owner loved investing to the point if you wanted to invest in individual stocks, it was available in their plan.