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Clinton And Wall St: Financial Industry May Control Retirement Savings

International Business Times ^ | 10/19/2016 | BY DAVID SIROTA AND AVI ASHER-SCHAPIRO

Posted on by AC Beach Patrol

While Hillary Clinton has spent the presidential campaign saying as little as possible about her ties to Wall Street, the executive who some observers say could be her Treasury Secretary has been openly promoting a plan to give financial firms control of hundreds of billions of dollars in retirement savings. The executive is Tony James, president of the Blackstone Group.



(Excerpt) Read more at ibtimes.com ...

TOPICS:

Business/Economy

Government

News/Current Events

Politics/Elections

KEYWORDS:

economy

hillary

retirement

trump

There you have it pilgrims. And you think those in the GOPe with close establishment ties to Wall St are opposing due to the unacceptable lack of civility and foul mouth of Trump. Just to give you an idea of the windfall we're talking about. To give you some perspective, Wall St makes over $4 billion per year handling the retirement funds of only teachers in only one state. For Wall Street and the money shifters, it'll be QE ^ oo



To: AC Beach Patrol

She gets in they will be taking away peoples bank accounts at some point.



by 2 posted onby ColdOne ((poochie... Tasha 2000~3/14/11~ Because you'd be in jail!)

To: AC Beach Patrol

Bye bye, 401(k)s



by 3 posted onby COBOL2Java (It's easier to fool people than to convince them that they have been fooled. - Mark Twain)

To: COBOL2Java

They have been hinting at it for a couple of years now. It's not fair that some people had the initiative to save something for themselves.



To: AC Beach Patrol

Why are we even worrying about stuff like this? You don’t have the faith in God that Trump is going to be our next POTUS??? Shame on you...



To: COBOL2Java

and IRA’a and Keogh’s!



by 6 posted onby Grampa Dave (We are not electing a saint. We are electing an ass kicker! Vote for Trump! Defeat Illiarily!)

To: ColdOne

When they take away the gold and silver, I plan to toss in the lead.



by 7 posted onby Mouton (The insurrection laws maintain the status quo now.)

To: AC Beach Patrol

A socialists dream obviously



by 8 posted onby Fiddlstix (Warning! This Is A Subliminal Tagline! Read it at your own risk!(Presented by TagLines R US))

To: COBOL2Java

Bye bye, 401(k)s My thunder has been spoiled! I was going to post: Bye Bye 401K.



by 9 posted onby Prolixus (Proud to be irredeemably on Hillary's "Enemies List")

To: Prolixus

“spoiled” should be “stolen” too much coffee today...



by 10 posted onby Prolixus (Proud to be irredeemably on Hillary's "Enemies List")

To: AC Beach Patrol

He says that 401Ks don’t invest in alternative investments like hedge funds, real estate, etc. But what he doesn’t say is the reason they don’t is that they are not allowed to by regulations.

The politicians and money guys have been itching to take away more of people’s money this way for a long time. Does anyone believe that they won’t spend their money and it won’t be there when they need it?



To: AC Beach Patrol

My friends in Argentina lost their retirement accounts this way. http://www.nytimes.com/2008/10/22/business/worldbusiness/22argentina.html



To: Grampa Dave





by 13 posted onby COBOL2Java (It's easier to fool people than to convince them that they have been fooled. - Mark Twain)

To: pfflier

It’s why I cashed out ALL of my 401K’s and everything else they can touch. I’m a firm believer in 50% of something is better than 100% of nothing. And truth be told, I really didn’t take much of a hit. Last time, I yanked EVERYTHING out of the stock market. Everything. Call it dumb luck or call it the Lord watching out for me, but it was just before it came crashing down. But I’ve not gone back in, nor will I.



by 14 posted onby Mr. Douglas (Today is your life. What are you going to do with it?)

To: COBOL2Java

You don’t think your 401k is managed by “Wall Street” already?



To: Mouton

When they take away the gold and silver, I plan to toss in the lead.

^^This. ^^This. We’ve inched a long ways in that direction already, but to be clear, once that happens, the government will have gone into full USSR mode. At that point I invoke the money quote from the Declaration of Independence.



by 16 posted onby Mr. Douglas (Today is your life. What are you going to do with it?)

To: AC Beach Patrol

The deficit is eighteen trillion dollars, and there are sixteen trillion dollars in retirement accounts with that governmental string attached to them. It must tempt Congress to the point of salivation. It’s much easier to just steal the money from citizens than do the actual work of cutting budgets! The next financial crisis will be the catalyst for putting this into place. “Hey, Joe and Jane Citizen, the market is just soooo risky and you’re soooo stupid, so we’ll take over control of your retirement accounts and dole them back to you in amounts and time frames that we determine.”



by 17 posted onby LostInBayport (When there are more people riding in the cart than there are pulling it, the cart stops moving...)

To: babble-on

You dont think your 401k is managed by Wall Street already? "managed"? LOL We're talking about it being taken away from you! Gone! No longer there! Not yours anymore! Balance in the account $0!



by 18 posted onby COBOL2Java (It's easier to fool people than to convince them that they have been fooled. - Mark Twain)

To: Mr. Douglas

So what have you invested in? Thanks



by 19 posted onby Grampa Dave (We are not electing a saint. We are electing an ass kicker! Vote for Trump! Defeat Illiarily!)

To: AC Beach Patrol

This proposal is very similar to W. Bush’s personal accounts proposal for a sliver of peoples’ Social Security contributions. Dems opposed it then, will oppose it now.



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