http://market-ticker.denninger.net/archives/1830-401kIRA-Screw-Job-Coming.html
January 8, 2010
“410k/IRA Screw Job Coming”
“Now this is a guaranteed rape job.
In a short conversation this noontime that CNBC apparently has omitted from their archives (Why’s that folks?) Rick Santelli was talking about a potential to effectively force money into the Treasury market.
Where would they get this?
From your 401k and IRA accounts!
From Businessweek:
“The U.S. Treasury and Labor Departments will ask for public comment as soon as next week on ways to promote the conversion of 401(k) savings and Individual Retirement Accounts into annuities or other steady payment streams, according to Assistant Labor Secretary Phyllis C. Borzi and Deputy Assistant Treasury Secretary Mark Iwry, who are spearheading the effort.
Let me tell you what this is - it is an attempt to prevent the collapse of the Treasury market!...”
Someone at FR posted a link to the 90 day public comment announcement which commenced on January 29, 2010.
Here’s another link on the topic:
February 24, 2010
http://www.lewrockwell.com/blog/lewrw/archives/51635.html
Im afraid to publicly comment after the whitehouse.gov fiasco.