Don't fuck with my 401(k), assholes. It may have been in the shitter a year ago, and it's not made it all the way back yet, but it's MY money, not yours.
Last year’s stock panic must have looked like a golden opportunity to say, “See, we told you rubes what would happen if you tried to take care of yourselves!” That argument fizzled and the plot quieted down as the markets made back most of 2008’s losses, but after a year of madcap spending from the Obama administration and the Democratic congress, it appears to be back.According to Theo Francis at BusinessWeek [2], “The Obama administration is weighing how the government can encourage workers to turn their savings into guaranteed income streams following a collapse in retiree accounts when the stock market plunged.”
It turns out that Obama appointees Phyllis Borzi (assistant secretary of labor) and Mark Iwry (deputy assistant treasury secretary) are floating the idea of “the conversion of 401(k) savings and Individual Retirement Accounts into annuities or other steady payment streams.”
Well.
Tar. Feathers. Rails. Rope.


We ain't going European, we're heading straight for communism.