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Subject Huge Ruling!!! SEC to allow 401k's to go all into Leveraged High Risk Hedge Funds

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This morning on Bloomberg, it was either Ken Pruitt or Tom Keene said, "This is by far the most foolish decision I have seen in 20 years."

Basically the Jobs Bill created a loophole that was exploited and passed by the SEC that will allow desperate baby boomers can take their 401k and dump the whole thing into a high risk hedge fund.  This will create problems that could destroy the economy over the edge.

[b]It is terrible policy to allow people to take tax sheltered retirement money and put in on the equivalent of the vegas craps table..[/b]
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^^^^^^^

The House always wins.
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Normally these hedge funds are for guys with tons of money they can lose because the funds are ultra high risk.  401k's are supposed to be normally be put into non aggressive funds and you can role them into something safe like gold if you want.
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Good find! 5 stars and pin

Digi
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Original Message This morning on Bloomberg, it was either Ken Pruitt or Tom Keene said, "This is by far the most foolish decision I have seen in 20 years."

Basically the Jobs Bill created a loophole that was exploited and passed by the SEC that will allow desperate baby boomers can take their 401k and dump the whole thing into a high risk hedge fund. This will create problems that could destroy the economy over the edge.

It is terrible policy to allow people to take tax sheltered retirement money and put in on the equivalent of the vegas craps table..

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