Obama tries to pretend he hates the megabanks (such as Goldman, who was his #2 contributor after the U. of Cal. in 2008), but he wants them to steal money directly from us in the form of the “cap and trade” private tax (and they would be only to happy to oblige).
So in spite of those facts, the megabanks are not to be trusted with retirement money. And I think that assertion is correct, although I can’t believe he really cares about seniors or anyone else outside his special constituencies, and only “cares” about most of them in an opportunistic sense.
Tell you what, for four to five times the retirement income, they can destroy Social Security for all I care.
Put the money away and let it draw interest. Then the government won’t have to subsidize a fund, or more like it, steal from it.