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Obama Admin Looks to Nationalize your 401K & Control Americans’ $19.4 Trillion In Retirement Accounts

 
Anonymous Coward
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02/05/2013 11:39 AM
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Re: Obama Admin Looks to Nationalize your 401K & Control Americans’ $19.4 Trillion In Retirement Accounts
Remember that old phrase, “I’m from the government, and I’m here to help”?

Well, it looks like we are hearing it again, at least on the issue of keeping Americans’ retirement funds safe.

The U.S. Consumer Financial Protection Bureau is weighing whether it should take on a role in ‘helping’ Americans manage the $19.4 trillion they have put into retirement savings.

This would be the agency’s first incursion into the investments of consumers.

Read more: [link to freedomoutpost.com]
 Quoting: DoorBert


laugh

Oh this is rich... They must actually think they are good accountants!

Has it not dawned on these dense assholes that they couldn't run a lemonade stand!??

LOL
Anonymous Coward
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02/05/2013 11:42 AM
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Re: Obama Admin Looks to Nationalize your 401K & Control Americans’ $19.4 Trillion In Retirement Accounts
Gotta pay for those drone kill shots on Americans somehow.

And that 1.5 billion rounds hollow point ammo for DHS isn't cheap.
 Quoting: Professor Xavier


Shhhhhhhh, 1.5 billion rounds isn't that much....
And as for the drone kill shots, well, it's for our own good ohyeah
Anonymous Coward
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02/05/2013 11:51 AM
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Re: Obama Admin Looks to Nationalize your 401K & Control Americans’ $19.4 Trillion In Retirement Accounts
Sucks for those who thought they'd retire someday.

Can we stop this and start over?
 Quoting: Anonymous Coward 32908345


..well you might start by reading aricles that do not reflect the lying headline..there is NO "Nationalize your 401K & Control Americans’ $19.4 Trillion In Retirement Accounts"..zero..none..not there...what MIGHT be there is concern that the banks/investment houses be closely supervised to see that laws on the books be followed...imagine a govt. agency taking it's obligations seriously..maybe the crimes of MF Global have caused some good men and women to say let's prevent this from happening...there is NO movement, covert or otherwise to seize assets held in tax deferred/Roth accounts..NOwhere is there any suggestion of govt. seizure of funds...it would be nice if govt. did it's job and helped protect the retirement funds of our aging population...when SS becomes means tested, it will be important that your other funds are not stolen by banksters...stop jerking everytime some false story/headline pulls the strings...and keep the powder dry :)
Anonymous Coward
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02/05/2013 11:53 AM
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Re: Obama Admin Looks to Nationalize your 401K & Control Americans’ $19.4 Trillion In Retirement Accounts
An Investment Company Institute study published in Nov. found that U.S. retirement assets totaled $18.5 trillion at the end of the second quarter 2012, of which 3.5 trillion was in IRAs and $5.1 trillion was in 401(k) plans.

[link to www.ici.org]

Since 2010, the U.S. Treasury Department and the Department of Labor have been holding combined hearings on various plans designed to introduce government-mandated retirement plans and investment options, including government annuities invested primarily in U.S. Treasury debt, into the private retirement savings market.

“This hearing was set up to explore why Americans are not saving as much for their retirement as they could,” explained National Seniors Council National Director Robert Crone, describing a recent Treasury-Labor hearing held in the Labor Department’s main auditorium.

[link to nationalseniorscouncil.org]

“However it is clear that his is just the first step toward a government takeover. It feels like the beginning of the debate over health care and we all know how that ended up.”

[link to www.wnd.com]
 Quoting: DoorBert


A hearing was set up to explore this? That sounds like another waste of taxpayer's money to me!
Anonymous Coward
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02/05/2013 11:56 AM
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Re: Obama Admin Looks to Nationalize your 401K & Control Americans’ $19.4 Trillion In Retirement Accounts
Please let me add, they bankrupted SS and they think they can manage peoples retirement funds? They want us to buy worthless Tbills ( from our Bankrupt nation ) which will actually pay for what they robbed from the SS fund. Got to give 'em credit. It's a pretty good scam!
Anonymous Coward
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02/05/2013 12:00 PM
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Re: Obama Admin Looks to Nationalize your 401K & Control Americans’ $19.4 Trillion In Retirement Accounts
will this be where obama and his admin and the gov take one step too far? time will tell.
ehecatl

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02/05/2013 12:01 PM
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Re: Obama Admin Looks to Nationalize your 401K & Control Americans’ $19.4 Trillion In Retirement Accounts
When the moneys gone,

freedom (revolution = liberty or death) is just another word for nothing left to loose.

jacknic_nod
ehecatl

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02/05/2013 12:02 PM
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Re: Obama Admin Looks to Nationalize your 401K & Control Americans’ $19.4 Trillion In Retirement Accounts
will this be where obama and his admin and the gov take one step too far? time will tell.
 Quoting: Anonymous Coward 33288026


....but they do it slow enough that it will be waaaaaaaaaaaay to late for "time to tell", before enough catch on.

no need to think for the masses because they are cattle.

think for yourself.

Last Edited by ehecatl on 02/05/2013 12:04 PM
Anonymous Coward
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02/05/2013 12:02 PM
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Re: Obama Admin Looks to Nationalize your 401K & Control Americans’ $19.4 Trillion In Retirement Accounts
Sucks for those who thought they'd retire someday.

Can we stop this and start over?
 Quoting: Anonymous Coward 32908345


..well you might start by reading aricles that do not reflect the lying headline..there is NO "Nationalize your 401K & Control Americans’ $19.4 Trillion In Retirement Accounts"..zero..none..not there...what MIGHT be there is concern that the banks/investment houses be closely supervised to see that laws on the books be followed...imagine a govt. agency taking it's obligations seriously..maybe the crimes of MF Global have caused some good men and women to say let's prevent this from happening...there is NO movement, covert or otherwise to seize assets held in tax deferred/Roth accounts..NOwhere is there any suggestion of govt. seizure of funds...it would be nice if govt. did it's job and helped protect the retirement funds of our aging population...when SS becomes means tested, it will be important that your other funds are not stolen by banksters...stop jerking everytime some false story/headline pulls the strings...and keep the powder dry :)
 Quoting: Anonymous Coward 27237669




I was hoping to see through this too. It's kinda like the gun control issue: PUT THE CURRENT LAWS INTO EFFECT!

Don't spend more millions of taxpayer money to do a study that will establish another useless government agency.
Anonymous Coward
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02/05/2013 12:03 PM
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Re: Obama Admin Looks to Nationalize your 401K & Control Americans’ $19.4 Trillion In Retirement Accounts
NY state tried this shit with cuomo to get in the corrections officers pesions - the corrections officers won.

That is some nerve to come around after losing your ass in the casino and being like: "hey we got this - let us manage your pension" -

yeah ok

Man these assholes really are walking around with no clothes
Waterbug

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02/05/2013 12:05 PM

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Re: Obama Admin Looks to Nationalize your 401K & Control Americans’ $19.4 Trillion In Retirement Accounts
will this be where obama and his admin and the gov take one step too far? time will tell.
 Quoting: Anonymous Coward 33288026


....but they do it slow enough that it will be waaaaaaaaaaaay to late by the time that enough catch on.
 Quoting: ehecatl


froggy
Anonymous Coward
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02/05/2013 12:05 PM
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Re: Obama Admin Looks to Nationalize your 401K & Control Americans’ $19.4 Trillion In Retirement Accounts
Obama: 'No doubt' we need more taxes

US President Obama on Sunday insisted that the nation needs additional tax revenue, some of which the government could acquire by closing or reducing loopholes and deductions.

“There is no doubt we need additional revenue, coupled with smart spending reductions in order to bring down our deficit,” the president said in an interview aired on CBS.

“And we can do it in a gradual way so that it doesn’t have a huge impact.”

Obama suggested raising revenue through an overhaul of the tax code, which would include closing or tightening unspecified “loopholes” and deductions.

“If you combine those things together, then we can not only reduce our deficit but we can continue to invest in things like education and research and development that are going to help us grow – without raising rates again,” Obama said.

[link to rt.com]
 Quoting: DoorBert


It's always amusing to watch the manipulation tactics that government deploys to get their way. What's sad is that people fall for it.

"Closing loopholes" won't raise enough revenue to fund the government for more than a few days.
Anonymous Coward
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02/05/2013 12:07 PM
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Re: Obama Admin Looks to Nationalize your 401K & Control Americans’ $19.4 Trillion In Retirement Accounts
"Let me put my hand in your cookie jar again, K?"

Oh, these bastards never let up.

I don't think it's that the country is ignorant or stupid, it's that these people are doing so much shit so fast that no one can keep up with all of it!

Is there anything that is not up for grabs?

I guess not.
thetrickybigguy
say hello to my little friend...

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02/05/2013 12:08 PM

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Re: Obama Admin Looks to Nationalize your 401K & Control Americans’ $19.4 Trillion In Retirement Accounts
Well, fuck. That's the only money I have left. Now the fuckers want that too. What, does Mooshell need another fucking vacation or something? Fuck them.
 Quoting: Anonymous Coward 33704894


the debt is at 16T and if they steal 19T there will be 3T left over for mooshells vacations.....

only thing is they won't use the 16T to pay off the debt..

cruise
Falling down is a part of life, getting back up is living. ~

Life is about choices, you get to make them each and every day of your life. ~

Capitalization is the difference between helping your Uncle Jack off a horse and helping your uncle jack off a horse.~

Only in America... do we use the word 'politics' to describe the process so well: 'Poli' in Latin meaning 'many' and 'tics' meaning 'bloodsucking creatures'.~

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Anonymous Coward
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02/05/2013 12:13 PM
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Re: Obama Admin Looks to Nationalize your 401K & Control Americans’ $19.4 Trillion In Retirement Accounts
one day soon they'll get down to the midnight hour. faced with shutting down the government. and as a last desperation move they'll borrow from the fund, leaving an IOU in place. Your money will evaporate into thin air in the blink of an eye.
foggybottom

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02/05/2013 12:15 PM
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Re: Obama Admin Looks to Nationalize your 401K & Control Americans’ $19.4 Trillion In Retirement Accounts
People who actually believe they are getting their 401k etc. deserves to have them taken
 Quoting: Anonymous Coward 29081478


What options do you recommend for people who have worked hard and played by the rules?
Zaphod's just ziss guy, you know...
YaRight

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02/05/2013 12:18 PM
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Re: Obama Admin Looks to Nationalize your 401K & Control Americans’ $19.4 Trillion In Retirement Accounts
Sucks for those who thought they'd retire someday.

Can we stop this and start over?
 Quoting: Anonymous Coward 32908345


..well you might start by reading aricles that do not reflect the lying headline..there is NO "Nationalize your 401K & Control Americans’ $19.4 Trillion In Retirement Accounts"..zero..none..not there...what MIGHT be there is concern that the banks/investment houses be closely supervised to see that laws on the books be followed...imagine a govt. agency taking it's obligations seriously..maybe the crimes of MF Global have caused some good men and women to say let's prevent this from happening...there is NO movement, covert or otherwise to seize assets held in tax deferred/Roth accounts..NOwhere is there any suggestion of govt. seizure of funds...it would be nice if govt. did it's job and helped protect the retirement funds of our aging population...when SS becomes means tested, it will be important that your other funds are not stolen by banksters...stop jerking everytime some false story/headline pulls the strings...and keep the powder dry :)
 Quoting: Anonymous Coward 27237669


lol... and the goverment really does care about you!
The most terrifying words in the English language are: I'm from the government and I'm here to help.
foggybottom

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02/05/2013 12:18 PM
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Re: Obama Admin Looks to Nationalize your 401K & Control Americans’ $19.4 Trillion In Retirement Accounts
People who actually believe they are getting their 401k etc. deserves to have them taken
 Quoting: Anonymous Coward 29081478


Meant to ask also: What are your retirement options in Denmark?
Zaphod's just ziss guy, you know...
Dinkytuff

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02/05/2013 12:20 PM

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Re: Obama Admin Looks to Nationalize your 401K & Control Americans’ $19.4 Trillion In Retirement Accounts
Remember that old phrase, “I’m from the government, and I’m here to help”?

Well, it looks like we are hearing it again, at least on the issue of keeping Americans’ retirement funds safe.

The U.S. Consumer Financial Protection Bureau is weighing whether it should take on a role in ‘helping’ Americans manage the $19.4 trillion they have put into retirement savings.

This would be the agency’s first incursion into the investments of consumers.

Read more: [link to freedomoutpost.com]
 Quoting: DoorBert


You didn't earn that money! Someone else did that! Besides that you might spend it on something stupid like a vacation, or your own health insurance, or *gasp* a gun.

You just give it to us for safe keeping and when you need it, I'll set up a committee to set up a committee, who'll be on a committee that oversees the committee that runs the committee who will do a study on what you want to spend that money on to see if it's the optimal use for said money.

And after you fill out the papers so you can get the application for said money, the committee will have 365 days to give you notice on whether your request has been approved.
And by and by Christopher Robin came to an end of things, and he was silent, and he sat there, looking out over the world, just wishing it wouldn't stop.

FEMA Sector VII
ehecatl

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02/05/2013 12:25 PM
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Re: Obama Admin Looks to Nationalize your 401K & Control Americans’ $19.4 Trillion In Retirement Accounts
If obama does not take your money, the chinese might, after the next revolution.

23 skidoo
Waterbug

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02/05/2013 12:26 PM

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Re: Obama Admin Looks to Nationalize your 401K & Control Americans’ $19.4 Trillion In Retirement Accounts
Sucks for those who thought they'd retire someday.

Can we stop this and start over?
 Quoting: Anonymous Coward 32908345


..well you might start by reading aricles that do not reflect the lying headline..there is NO "Nationalize your 401K & Control Americans’ $19.4 Trillion In Retirement Accounts"..zero..none..not there...what MIGHT be there is concern that the banks/investment houses be closely supervised to see that laws on the books be followed...imagine a govt. agency taking it's obligations seriously..maybe the crimes of MF Global have caused some good men and women to say let's prevent this from happening...there is NO movement, covert or otherwise to seize assets held in tax deferred/Roth accounts..NOwhere is there any suggestion of govt. seizure of funds...it would be nice if govt. did it's job and helped protect the retirement funds of our aging population...when SS becomes means tested, it will be important that your other funds are not stolen by banksters...stop jerking everytime some false story/headline pulls the strings...and keep the powder dry :)
 Quoting: Anonymous Coward 27237669


lol... and the goverment really does care about you!
 Quoting: YaRight


Yeah... like they protected SS..
Anonymous Coward
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02/05/2013 12:27 PM
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Re: Obama Admin Looks to Nationalize your 401K & Control Americans’ $19.4 Trillion In Retirement Accounts
FOLKS!

The GOVT is broke and the only big pool of money left in the world is...

YOUR 401(k)/Penion/SEP-IRA/Retirement Account etc

"Borrowing" from the Federal Pension Funds for the Government's general fund purposes is a big red flag and one that you regularly see in the "Corporate" world right before the bankrupcty filings!

The next act in this tragedy is the rehypothecation of your 401(k)/Penion/SEP-IRA/Retirement Account etc

Mark my words - he who panics earliest, panics best when its a run on the TBTF banks/brokerages/casinos for whatever shekels you may have left there in whatever vehicle they are parked (401(k)/Penion/SEP-IRA/Retirement Account)!

P.S. If you don't hold it YOU DON'T HAVE IT!

The more commingled "your funds" are, the more fungible they are and the easier it is for a Jon Corzine to throw his hands up and declare "We weren't exactly sure who they belonged to so we used them ourselves!"

And they all said it COULDN'T happen here!
Wake up - it is happening!

By the way you think any of this is related to the stricter gun control issue? Afterall what fun would a bank run be if the depositers were actually ARMED!

While the Revolution will be televised it's commencemnt will not be broadcast (here or elsewhere) SO START THINKING FOR YOURSELF.
Anonymous Coward
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02/05/2013 12:31 PM
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Re: Obama Admin Looks to Nationalize your 401K & Control Americans’ $19.4 Trillion In Retirement Accounts
bump it for later
oh my gatos
Mr. Toppit

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02/05/2013 12:32 PM

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Re: Obama Admin Looks to Nationalize your 401K & Control Americans’ $19.4 Trillion In Retirement Accounts
Its only a temporary borrowing... just like the sales tax was supposed to be.

A little more regulation fee blah puke vomit out of your pocket sir.
Anonymous Coward
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02/05/2013 12:37 PM
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Re: Obama Admin Looks to Nationalize your 401K & Control Americans’ $19.4 Trillion In Retirement Accounts
I can remember reading something earlier about opting into this, most do not like to manage their accounts.

For the ones that do, you will still have control.

The main problem I see with this, so many are in mutual fund and or stocks. If you were to remove hundreds of billions from the stock funds, you will in turn crash the financial markets.

Those market depend on the monthly investments.


Since the rick and powerful run this country, think what it will do to their portfolios. I doubt they would stand for losing 50% of their net worth.
Anonymous Coward
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02/05/2013 12:37 PM
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Re: Obama Admin Looks to Nationalize your 401K & Control Americans’ $19.4 Trillion In Retirement Accounts
roth iras = covert justification for asset seizure!
after all - while you got no deduction for it you are also "untaxed" on its earnings - so uncle sam can feel justified in "borrowing" those earnings as form of stealth taxation...
Anonymous Coward
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02/05/2013 12:44 PM
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Re: Obama Admin Looks to Nationalize your 401K & Control Americans’ $19.4 Trillion In Retirement Accounts
FOLKS!

The GOVT is broke and the only big pool of money left in the world is...

YOUR 401(k)/Penion/SEP-IRA/Retirement Account etc

"Borrowing" from the Federal Pension Funds for the Government's general fund purposes is a big red flag and one that you regularly see in the "Corporate" world right before the bankrupcty filings!

The next act in this tragedy is the rehypothecation of your 401(k)/Penion/SEP-IRA/Retirement Account etc

Mark my words - he who panics earliest, panics best when its a run on the TBTF banks/brokerages/casinos for whatever shekels you may have left there in whatever vehicle they are parked (401(k)/Penion/SEP-IRA/Retirement Account)!

P.S. If you don't hold it YOU DON'T HAVE IT!

The more commingled "your funds" are, the more fungible they are and the easier it is for a Jon Corzine to throw his hands up and declare "We weren't exactly sure who they belonged to so we used them ourselves!"

And they all said it COULDN'T happen here!
Wake up - it is happening!

By the way you think any of this is related to the stricter gun control issue? Afterall what fun would a bank run be if the depositers were actually ARMED!

While the Revolution will be televised it's commencemnt will not be broadcast (here or elsewhere) SO START THINKING FOR YOURSELF.
 Quoting: Anonymous Coward 2836766


Good post, your right on the mark.....
Anonymous Coward
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02/05/2013 12:44 PM
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Re: Obama Admin Looks to Nationalize your 401K & Control Americans’ $19.4 Trillion In Retirement Accounts
1. Scare the people into draining their retirement accounts

2. Some will spend some of this 19 trillion

3. Economy improves

4. Obama looks good

5. People without savings might be more dependant on the Feds = win win



Just a possibility.
Anonymous Coward
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02/05/2013 12:46 PM
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Re: Obama Admin Looks to Nationalize your 401K & Control Americans’ $19.4 Trillion In Retirement Accounts
They want the population disarmed when they steal all your money....

it's as clear as can be.....
Anonymous Coward
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Germany
02/05/2013 01:04 PM
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Re: Obama Admin Looks to Nationalize your 401K & Control Americans’ $19.4 Trillion In Retirement Accounts
This could be the last straw. Taking our retirement would get enough people up in arms to start the next revolution.We still need a charismatic leader. So far there has not been a really popular conservative leader. Our leader will most likely not be a republican, since they have sold us out at every opportunity. That means he will come from obscurity, and that adds some difficulty to the idea.
 Quoting: Epic Beard Guy


There will be no uprising as long as the eaters continue to grow in number. They are working hard on bumping those numbers through "immigration reform".

Those "on the fence" (independents) will accept the government extending "just a little more" into their lives because "it is for the best".

The numbers are no longer in the favor of those of us trying to live the life promised in 10 contracted rights.

When I have to come to a site billed as a "conspiracy forum" to find politically like-minded people, you can see how they want to paint conservative thinking.

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