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Old 02-04-2013, 01:22 PM
 
Location: Great State of Texas
86,068 posts, read 76,115,551 times
Reputation: 27635

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And now we have the Consumer Protection Bureau thinking they might be the best ones to manage Americans' retirement money.

They were formed under the Dodd-Frank act in 2010 to protect us from the 'evil banks'.

I guess if they really want to help we should sic them on Jesse Jackson who wants to use that money for low income community loans
Now THAT would be protecting our money

I guess amounts totaling over $14 trillion dollars "just sitting there" is too much for any government agency to leave alone.

Remember..they only want to "help" us because I guess they think we don't know what we're doing.

Retirement Savings Accounts Draw U.S. Consumer Bureau Attention - Bloomberg
The U.S. Consumer Financial Protection Bureau is weighing whether it should take on a role in helping Americans manage the $19.4 trillion they have put into retirement savings, a move that would be the agency’s first foray into consumer investments.
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Old 02-04-2013, 01:26 PM
 
Location: somewhere in the woods
16,876 posts, read 13,688,122 times
Reputation: 5224
Quote:
Originally Posted by HappyTexan View Post
And now we have the Consumer Protection Bureau thinking they might be the best ones to manage Americans' retirement money.

They were formed under the Dodd-Frank act in 2010 to protect us from the 'evil banks'.

I guess if they really want to help we should sic them on Jesse Jackson who wants to use that money for low income community loans
Now THAT would be protecting our money

I guess amounts totaling over $14 trillion dollars "just sitting there" is too much for any government agency to leave alone.

Remember..they only want to "help" us because I guess they think we don't know what we're doing.

Retirement Savings Accounts Draw U.S. Consumer Bureau Attention - Bloomberg
The U.S. Consumer Financial Protection Bureau is weighing whether it should take on a role in helping Americans manage the $19.4 trillion they have put into retirement savings, a move that would be the agency’s first foray into consumer investments.

they cant manage their own money, how in the hell do they think they can manage someone elses?
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Old 02-04-2013, 01:30 PM
 
17,959 posts, read 10,053,867 times
Reputation: 7886
Here it comes. the trial baloon has already been floated.

before long, there will be a drum beat to nationalize 401Ks.

It is coming.
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Old 02-04-2013, 01:33 PM
 
13,084 posts, read 8,185,779 times
Reputation: 5807
Quote:
Originally Posted by HappyTexan View Post
And now we have the Consumer Protection Bureau thinking they might be the best ones to manage Americans' retirement money.

They were formed under the Dodd-Frank act in 2010 to protect us from the 'evil banks'.

I guess if they really want to help we should sic them on Jesse Jackson who wants to use that money for low income community loans
Now THAT would be protecting our money

I guess amounts totaling over $14 trillion dollars "just sitting there" is too much for any government agency to leave alone.

Remember..they only want to "help" us because I guess they think we don't know what we're doing.

Retirement Savings Accounts Draw U.S. Consumer Bureau Attention - Bloomberg
The U.S. Consumer Financial Protection Bureau is weighing whether it should take on a role in helping Americans manage the $19.4 trillion they have put into retirement savings, a move that would be the agency’s first foray into consumer investments.
The Consumer Protection Bureau is managing people's money?
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Old 02-04-2013, 01:36 PM
 
Location: Great State of Texas
86,068 posts, read 76,115,551 times
Reputation: 27635
Quote:
Originally Posted by Ferd View Post
Here it comes. the trial baloon has already been floated.

before long, there will be a drum beat to nationalize 401Ks.

It is coming.
I fear you may be right Ferd. I've been following this and too many people/groups/USG agencies think they need to take this pot of money over and manage it for us. Too many groups have gone to Congress and one too many public hearings on the topic.

Shades of Argentina ??

I don't know but I'm keeping a wary eye on what goes on in this area and will pull out all my damn money if it comes to that. I already can't depend on SS being there but now have to worry about my 401K ?
No way.
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Old 02-04-2013, 01:37 PM
 
Location: Great State of Texas
86,068 posts, read 76,115,551 times
Reputation: 27635
Quote:
Originally Posted by Winter_Sucks View Post
The Consumer Protection Bureau is managing people's money?
Actually no they don't. But they want to. They want to mange your retirement money is what they are considering.
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Old 02-04-2013, 01:41 PM
 
17,959 posts, read 10,053,867 times
Reputation: 7886
Quote:
Originally Posted by HappyTexan View Post
I fear you may be right Ferd. I've been following this and too many people/groups/USG agencies think they need to take this pot of money over and manage it for us. Too many groups have gone to Congress and one too many public hearings on the topic.

Shades of Argentina ??

I don't know but I'm keeping a wary eye on what goes on in this area and will pull out all my damn money if it comes to that. I already can't depend on SS being there but now have to worry about my 401K ?
No way.

think what a 19TRILLION dollar shot in the arm would do for a Liberal/Progressive led government? They could make expanded Social Security promises tell us all our pensions are safe and spend that money in the regular budget just like they do SS tax dollars.

poop our money is gone and they will claim to have saved the world from the evil wall street demons yet again.

guess who gets to eat dogfood in 20 years when we retire?
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Old 02-04-2013, 01:44 PM
 
Location: On the Group W bench
5,563 posts, read 3,810,771 times
Reputation: 2127
Quote:
Originally Posted by HappyTexan View Post
Actually no they don't. But they want to. They want to mange your retirement money is what they are considering.
Please cite a source. And no, I don't mean your vivid fantasy world.

Really, you conservatives spend half your time complaining because Obama's in Wall Street's back pocket, and the other half complaining because he's trying to do something about it.

Make up your minds. If you have any.
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Old 02-04-2013, 01:45 PM
 
Location: Great State of Texas
86,068 posts, read 76,115,551 times
Reputation: 27635
Quote:
Originally Posted by Ferd View Post
think what a 19TRILLION dollar shot in the arm would do for a Liberal/Progressive led government? They could make expanded Social Security promises tell us all our pensions are safe and spend that money in the regular budget just like they do SS tax dollars.

poop our money is gone and they will claim to have saved the world from the evil wall street demons yet again.

guess who gets to eat dogfood in 20 years when we retire?
I'll pull the plug on my 401K before I succumb to that and take the penalty hit.

Having 70% of my money buried in the back yard beats 100% of government IOUs.

That or change it all over to a single life annuity with an insurance company.
I'm already retired so I can do that.
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Old 02-04-2013, 01:47 PM
 
Location: Great State of Texas
86,068 posts, read 76,115,551 times
Reputation: 27635
Quote:
Originally Posted by jmqueen View Post
Please cite a source. And no, I don't mean your vivid fantasy world.

Really, you conservatives spend half your time complaining because Obama's in Wall Street's back pocket, and the other half complaining because he's trying to do something about it.

Make up your minds. If you have any.
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 ?
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