Tell it to those who lost their retirement.
I sort of feel sorry for people who lost their life savings in the 401k. But why did they have their ENTIRE LIFE SAVINGS IN
ONE STOCK?????? These people were approacing retirement, yet they "bet the farm" by puting all thier eggs in one basket? There is a simple answer, they were greedy. They saw Enron's stock going up, so most likey they took money out of other things like mutual funds, and rolled the dice. They probably felt smart when the stock went from $40 in late 1999 to $90 in late 2000, and had over six months to sell as it fell back to only $40 by August 2001. The facts are most of these people rolled the dice, and it came up snake eyes.
Maybe these were unsophisticated people, but the law is very clear that 401k sponsors can not give ANY advice that would be considered investment advice. Maybe we do need more laws to protect "simple folk", but then maybe it should be up to the government to provide for everyone's retirement to keep things fair.