Nationalizing 401(k) Plans: Down Argentine Way

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A democracy cannot exist as a permanent form of
government. It can only exist until the voters discover that they can vote themselves largesse from the public
treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a
democracy always collapses over loose fiscal policy,
always followed by a dictatorship.
If you are watching any of the current events with even a basic sense of history, economics, and the ability to analyze the legislation that is being passed by the congress, you are probably worried, and rightly so. If not, keep drinking the Obama, Pelosi, Reid Kool-Aid. One day you'll have to decide if you'll need a rifle to defend your home and what's left of our "freedom" -- There is new revolution brewing and the Illegals, Welfare cheats, corrupt politicians, power brokers, wall street jackals, and just plain lazy-assed maggots, liars and thieves are going to pay the price of their complete irresponsibility.

M. Williams of CA 12:28PM February 17, 2009

There is only one good thing that will come out of all this gov't corruption is that the o'nites will have to pay too. :-)

Joe Allen of GA 9:35AM November 22, 2008

If one could devalue publicly-held companies and then buy them up for pennies on the dollar...

Piltdown911 of WI 7:03PM November 12, 2008

Who is the nit wit that has come up with this silly idea???
Investing money at a rate of 3% at a time when inflation is running in excess of 4% is suicide. Greenspan in his book, "The Age of Turbulence" suggests we will likely be intering an era where inflation is running out of control (e.g. 5% or more). The Baby Boomers (and younger people) can't afford to even consider investing at a rate of 3%. This will exacerbate the retirement crisis not solve it.

JT of GA 11:32AM November 10, 2008

It was the Dems who looked the other way when fan and Freddie were leveraged 60 to 1.
Perhaps this is all part of the plan. Screw everything up so much that the people will beg for communism.
Obama loves communists.

hakeem of 1:10AM November 10, 2008

Pelosi's plan to take 401 and ira retirement money and force people to put it in new Social Security Plan will cause mass selling of stocks at lower and lower prices. Make savers poor. Did the commenters vote for Obama and Democrats?

Irene McCallister of FL 7:50PM November 08, 2008

my husband and i have saved for 30yrs in 401k, leave our $700.000.00 alone.==we know how to save for our own future.,..

karen of 6:43PM October 31, 2008

Everything was going good in this country until 2006 when American's wanted change. So, in 2006 they voted in a Democratic Congress and we got CHANGE. Now, if American's vote in a Democratic President there will be no checks and balances and no accountability.

Debbie Alexander of NC 9:43AM October 31, 2008

Make no mistake folks they are talking about seizing our 401ks and dumping them into a social security slush fund where everyone gets a payout but it wa built on our private savings. Slept in my car the summer before college to afford a place to live for the semester. I got out of school and lived in a boarding house until I could afford to put 20% down on a meager home, being certain to only buy what I could afford. Then I maxed my 401k out because I know no one else was going to take care of me. Now they are going to take roughly $150K from me. Seize it, and put in a socialized welfare program. Seizure of personal property for the new socialism folks.
I could have used that same money to pay my house off. Furthermore they intend to lock in my losses.
If this happens I go rouge. I will not take it laying down. Game Over. Look out congressman.

Shredder of MA 2:28PM October 30, 2008

Thats what I was taught as a young boy and it has given me great perspective of the world. Losers and dummies need to weeded out of society, not given a piece of our pie! Obama, reid, Pelosi and Frank better watch their backs if stuff like this goes down. Lots of money and lots of power in this country that is not going to like this nonsense!
Let the revolution begin!!!

Issac of TX 8:49PM October 28, 2008