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I provided the link in my post. See the link in post #1
It's a Bloomberg article or do you think they make up stuff like Fox does ?
I don't see anything in any of those that says the CFPB is going to "manage" our retirement funds. It says over and over that they want to regulate banks who manage your funds.
I guess if you like what Wall Street did to our retirement funds in 2009, that alarms you.
But the rest of us noticed that the housing collapse happened in large part because the damn banks weren't regulated, and we would like those crooks to have a harder time stealing from us than they did before.
Everything else you're talking about is your fantasy world again. Oh, and we're coming for your guns, too.
I don't see anything in any of those that says the CFPB is going to "manage" our retirement funds. It says over and over that they want to regulate banks who manage your funds.
I guess if you like what Wall Street did to our retirement funds in 2009, that alarms you.
But the rest of us noticed that the housing collapse happened in large part because the damn banks weren't regulated, and we would like those crooks to have a harder time stealing from us than they did before.
Everything else you're talking about is your fantasy world again. Oh, and we're coming for your guns, too.
my retirement funds almost tripled in 2009, I like what happened just fine. if I could retire now instead having to wait til 59.5, i would.
And this is why social security needs to remain but with the idea that it is a basic transfer payment supported by a tax. That is what it is and it needs to live outside the financial economy.
And what the hell is a "fund" anyway? There is no credit market as if money has anything to do with public expenditures.
Adjust social security progressively and leave a reasonable worker to retiree ratio.
The insolvency of social security is a myth just as much as if welfare could become insolvent. Its a tax burden cost/benefit proposition more or less measured in the idea that falling into a meat grinder at the end of life might impact one's work ethic early in life. 20 somethings will be watching.
I don't see anything in any of those that says the CFPB is going to "manage" our retirement funds. It says over and over that they want to regulate banks who manage your funds.
I guess if you like what Wall Street did to our retirement funds in 2009, that alarms you.
But the rest of us noticed that the housing collapse happened in large part because the damn banks weren't regulated, and we would like those crooks to have a harder time stealing from us than they did before.
Everything else you're talking about is your fantasy world again. Oh, and we're coming for your guns, too.
What ? This was an interview with the head of the agency.
hey..believe it or not. I don't care.
Just passing on pertinent information.
If you don't believe a Bloomberg interview with Cordray then fine by me.
The article clearly stated manage accounts and said nothing about regulating. And anyone with just a few brain cells know once the gvt gets there foot in the door they are there to stay. Common sense would tell us that a cash starving gvt would think of a idea for revenue. And what better way then to dupe the ignorant that the nice gvt is protecting their investments.
I always wonder why this worthless agency existed and now I know.
The article clearly stated manage accounts and said nothing about regulating. And anyone with just a few brain cells know once the gvt gets there foot in the door they are there to stay. Common sense would tell us that a cash starving gvt would think of a idea for revenue. And what better way then to dupe the ignorant that the nice gvt is protecting their investments.
I always wonder why this worthless agency existed and now I know.
Actually it's quite interesting in how it was set up.
Head is appointed by the President for 5 years.
It gets it's money directly from the Fed..no need to lobby to Congress for money.
So we have a consumer finance bureau financed by the banksters protecting us from the banksters.
This idea was actually floated a few years ago. They are considering taking the IRAs and giving an annuity or other monthly payment in return. Here's an article:
This idea was actually floated a few years ago. They are considering taking the IRAs and giving an annuity or other monthly payment in return. Here's an article:
That's what I pointed out..different groups take their turns talking about how they could better mange private retirement money.
This is a recurring theme in DC. Now the question is which group will win ?
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