Democrats in Congress are using the financial turmoil to advocate for sweeping rollbacks of personal freedoms… like 401k retirement accounts. Seriously, would you be happy with a government run pension that mandates a specific return on investment – no more or less – pegged against inflation? Quite possibly the only financial crisis that looms large on the horizon that could dwarf what we are looking at right now is what happens with the solvency of Social Security… would you like more of that?
In reality, it’s a dog-and-pony show to advocate for the nationalization of 401(k) plans. The theory is that workers are too stupid to manage them ourselves, so we need to have the government do it for us.