Mainecat Posted June 16, 2020 Share Posted June 16, 2020 MORE MAGA.... Trump Just Fulfilled His Billionaire Pal's Dream "Trump just changed the rules to let Wall Street’s most predatory industry get its hands on hundreds of billions of dollars of ordinary workers’ retirement savings. Now his friends in private equity are celebrating." "...the trick Trump just pulled off for his billionaire pals was something particularly special — it could end up being one of the single biggest financial heists in history." "While long-standing worker-protection regulations have prevented 401(k) plans from investing in high-risk private equity firms, the letter now permits corporations to funnel that money to those firms, which charge notoriously giant fees." "Trump’s administration argued that workers should feel fortunate and thankful that the administration will now let employers turn their savings over to private equity barons." https://jacobinmag.com/2020/06/trump-just-fulfilled-his-billionaire-pals-dream Quote Link to comment Share on other sites More sharing options...
Snake Posted June 16, 2020 Share Posted June 16, 2020 Also by David Sirota.... Joe Biden has named several progressives, including Rep. Alexandria Ocasio-Cortez and Sara Nelson, to newly announced policy “task forces.” This beats him just sneering at leftists — but it’s no great progressive victory that a few good people are on a random list of names for toothless task forces. Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Highmark Posted June 16, 2020 Platinum Contributing Member Share Posted June 16, 2020 Our employee's can choose from about 3 dozen different investment vehicles to invest their 401K into. I have literally zero say in it. Quote Link to comment Share on other sites More sharing options...
Mainecat Posted June 16, 2020 Author Share Posted June 16, 2020 6 minutes ago, Highmark said: Our employee's can choose from about 3 dozen different investment vehicles to invest their 401K into. I have literally zero say in it. You legally had NO say. You do now so watch what happens...more raping and pillaging of the middle class. Quote Link to comment Share on other sites More sharing options...
Snake Posted June 16, 2020 Share Posted June 16, 2020 Jacobin is a leading voice of the American left, offering socialist perspectives on politics, economics, and culture. The print magazine is released quarterly and reaches 50,000 subscribers, in addition to a web audience of over 2,000,000 a month. Quote Link to comment Share on other sites More sharing options...
Snake Posted June 16, 2020 Share Posted June 16, 2020 Just now, Mainecat said: You legally had NO say. You do now so watch what happens...more raping and pillaging of the middle class. You understand you are exactly what you are railing about? Do you think because you 'agree' you would get to keep what is yours? You are the walking, talking definition of a useful idiot. 1 Quote Link to comment Share on other sites More sharing options...
Mainecat Posted June 16, 2020 Author Share Posted June 16, 2020 1 minute ago, Snake said: You understand you are exactly what you are railing about? Do you think because you 'agree' you would get to keep what is yours? You are the walking, talking definition of a useful idiot. One more time... While long-standing worker-protection regulations have prevented 401(k) plans from investing in high-risk private equity firms, the letter now permits corporations to funnel that money to those firms, which charge notoriously giant fees." Quote Link to comment Share on other sites More sharing options...
Snake Posted June 16, 2020 Share Posted June 16, 2020 Just now, Mainecat said: One more time... While long-standing worker-protection regulations have prevented 401(k) plans from investing in high-risk private equity firms, the letter now permits corporations to funnel that money to those firms, which charge notoriously giant fees." One more time..... This guy thinks AOC is quality legislative material. 1 Quote Link to comment Share on other sites More sharing options...
DriftBusta Posted June 16, 2020 Share Posted June 16, 2020 13 minutes ago, Mainecat said: You legally had NO say. You do now so watch what happens...more raping and pillaging of the middle class. oh shut the fuck up. That article you linked is biased horse shit. 1 Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Highmark Posted June 16, 2020 Platinum Contributing Member Share Posted June 16, 2020 14 minutes ago, Mainecat said: One more time... While long-standing worker-protection regulations have prevented 401(k) plans from investing in high-risk private equity firms, the letter now permits corporations to funnel that money to those firms, which charge notoriously giant fees." One more time..... 1. Those investment firms do not necessarily have single investment options of which the employee will still have choices. 2. Owners must use the same investment options as their employee's. It would be foolish for owners with 401K's to choose bad investment options. 3. The article is assuming all these firms are bad when in fact they likely are much better and will draw larger returns over and above any increased fee's. Quote Link to comment Share on other sites More sharing options...
Mainecat Posted June 16, 2020 Author Share Posted June 16, 2020 10 minutes ago, DriftBusta said: oh shut the fuck up. That article you linked is biased horse shit. You better check the new laws There rookie before you open your yap. The laws have changed because of who is running the show...oh look who wrote the new laws. 435 billion worth Quote Link to comment Share on other sites More sharing options...
Snake Posted June 16, 2020 Share Posted June 16, 2020 1 minute ago, Highmark said: One more time..... 1. Those investment firms do not necessarily have single investment options of which the employee will still have choices. 2. Owners must use the same investment options as their employee's. It would be foolish for owners with 401K's to choose bad investment options. 3. The article is assuming all these firms are bad when in fact they likely are much better and will draw larger returns over and above any increased fee's. You know who you are talking to? MC was a integral and respected part of a large corporation and knows the ins and outs of all your financial options. I mean show the guy some respect; those urinal cakes don't get put there by themselves. Quote Link to comment Share on other sites More sharing options...
Snake Posted June 16, 2020 Share Posted June 16, 2020 Just now, Mainecat said: You better check the new laws There rookie before you open your yap. The laws have changed because of who is running the show...oh look who wrote the new laws. 435 billion worth Now do the Clinton Foundation! 1 Quote Link to comment Share on other sites More sharing options...
Mainecat Posted June 16, 2020 Author Share Posted June 16, 2020 2 minutes ago, Highmark said: One more time..... 1. Those investment firms do not necessarily have single investment options of which the employee will still have choices. 2. Owners must use the same investment options as their employee's. It would be foolish for owners with 401K's to choose bad investment options. 3. The article is assuming all these firms are bad when in fact they likely are much better and will draw larger returns over and above any increased fee's. Good luck. Watch huge losses for the middle class. read the link Quote Link to comment Share on other sites More sharing options...
Snake Posted June 16, 2020 Share Posted June 16, 2020 2 minutes ago, Mainecat said: Good luck. Watch huge losses for the middle class. read the link So you read it on the internet. 1 Quote Link to comment Share on other sites More sharing options...
Sleepr2 Posted June 16, 2020 Share Posted June 16, 2020 (edited) Poor McLiar, he’s more confused than Moochelle Obama’s gynecologist. Edited June 16, 2020 by Sleepr2 1 Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Highmark Posted June 16, 2020 Platinum Contributing Member Share Posted June 16, 2020 (edited) 6 minutes ago, Mainecat said: Good luck. Watch huge losses for the middle class. read the link I have and its so unbiased it was a joy to read. Care to give some actual examples of below? If politics is the art of the sleight of hand, then Donald Trump is one of the deftest magicians of all time — a master of creating mesmerizing spectacles, while his minions quietly rob everything in sight. This David Copperfield routine has become so mundane we are practically numb to it, but the trick Trump just pulled off for his billionaire pals was something particularly special — it could end up being one of the single biggest financial heists in history. Edited June 16, 2020 by Highmark Quote Link to comment Share on other sites More sharing options...
racer254 Posted June 16, 2020 Share Posted June 16, 2020 Just now, Sleepr2 said: Poor McLiar, he’s more confused than Moochelle Obama’s gynecologist. It is so nice to see guys like him slowly disappear off of these sites. The constant barage of leftist bullshit opinions is so old. When you have politicians from the 80's trying to win elections, you will have topics rehashed from the same decade. Quote Link to comment Share on other sites More sharing options...
spin_dry Posted June 16, 2020 Share Posted June 16, 2020 16 minutes ago, racer254 said: It is so nice to see guys like him slowly disappear off of these sites. The constant barage of leftist bullshit opinions is so old. When you have politicians from the 80's trying to win elections, you will have topics rehashed from the same decade. It took a newcomer to take the United States to where it is today. Quote Link to comment Share on other sites More sharing options...
DriftBusta Posted June 16, 2020 Share Posted June 16, 2020 25 minutes ago, Mainecat said: You better check the new laws There rookie before you open your yap. The laws have changed because of who is running the show...oh look who wrote the new laws. 435 billion worth Unlike you, I read actual financial publications, not link ones I've never heard of. No one is talking about this, because there's nothing to see. 5 years in the biz this year, and over 250 families trust me with their money along with several 401k plans I advisor on. 435 billion is chicken scratch in the overall scheme of retirement assets. I ignore 95% of the sky is falling bullshit you post. Quote Link to comment Share on other sites More sharing options...
racer254 Posted June 16, 2020 Share Posted June 16, 2020 28 minutes ago, spin_dry said: It took a newcomer to take the United States to where it is today. Your type is easy to pick out and your schtick is to old. You leave a thread as soon as you can't find the correct response from some dem website. Quote Link to comment Share on other sites More sharing options...
spin_dry Posted June 16, 2020 Share Posted June 16, 2020 6 minutes ago, racer254 said: Your type is easy to pick out and your schtick is to old. You leave a thread as soon as you can't find the correct response from some dem website. If you haven’t noticed, the country is a fucking mess since trump took over. Quote Link to comment Share on other sites More sharing options...
Ez ryder Posted June 16, 2020 Share Posted June 16, 2020 1 hour ago, Mainecat said: You legally had NO say. You do now so watch what happens...more raping and pillaging of the middle class. so you think it was better to have no say in your 401k ? I would rather have my money in Bel Air investments than schwab shit any day . Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Highmark Posted June 16, 2020 Platinum Contributing Member Share Posted June 16, 2020 1 hour ago, Mainecat said: You legally had NO say. You do now so watch what happens...more raping and pillaging of the middle class. Bullshit. Employers have always had a choice. Last year the bank who ran ours was sold including the retirement division. We could have easily chose another firm. While it might have been limited as to who we chose we still had a choice to move it. Quote Link to comment Share on other sites More sharing options...
racer254 Posted June 16, 2020 Share Posted June 16, 2020 10 minutes ago, spin_dry said: If you haven’t noticed, the country is a fucking mess since trump took over. Really? Funny how the people you rally for have been in DC for decades, yet you blame it on trump. Quote Link to comment Share on other sites More sharing options...
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