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Now Wall Street Wants Your Pension, Too

businessweek.com — JPMorganChase, Citi, Cerberus, and Morgan Stanley are among the firms lobbying Washington to let them take over and run corporate pension funds

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  • bsmeteronhigh2, on 08/07/2008, -1/+2Hey, what are a bunch of 65 year old seniors going to do when all the money is gone, anyway? They'll stomp their feet and break a hip! This seems like a no brainer for big profits for the banks, and of course, our esteemed leaders will agree-- because their pensions are not included. Heh, heh, heh...
  • sjbdallas, on 08/07/2008, -0/+1Really? Well after the great job they did with the mortgage industry, why would we turn them down?
  • yellowcakewalk, on 08/07/2008, -0/+0Anyone out there trust JP Morgan Chase, Fidelity, et al, to give you back your hard earned 401k bucks? Feh.
  • ponyboy96, on 08/07/2008, -0/+0I wouldn't trust those jokers to to run a lemonade stand. When is all this madness and obsession with Wall St going to end? Bunch of crooks is all they are. I have a better plan, give me my money now and I will put it under my mattress. I would probably get a better ROI that way.
  • Airforcefalco, on 08/07/2008, -0/+0So pensions are going to end up being exactly like Social Security. The banks will spend the money on whatever they want without asking you and then when it comes to you getting your check it will be for $300/month which is enough for even a glutton to live on.
  • wynja, on 08/07/2008, -0/+2Cause they've done a bangup job with the housing market. Sure let's let them rip us off some more. My assholes not sore enough from the last go around.

    It's nice to know that Washington has figured out how to give us a hidden tax to pay for these companies *****.
  • RayPugh, on 08/07/2008, -2/+0They can have my pension, I was only going to spend it on AIDS medicine anyway.
  • barcelona10, on 08/08/2008, -0/+1well... I wasn't counting on the economy to really be around in the next couple of years. let them do what they want... it doesn't make a difference.
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