EXPOSE: The move to fleece billions from YOUR retirement fund
If it seems like you’re getting robbed at gun point, you are.
You are being kept in the dark about attempts to take control of your pensions. This story explains it all.
From the article: “Since the once-great city of Detroit filed for bankruptcy, Americans everywhere are in a panic. Is my city next? Is my state facing financial disaster? In the new fable, state and municipal workers are presented as the welfare queens of our age, historical anachronisms living fat and happy in the competition-free panacea of public service, and shamelessly living off the tax dollars generated entirely by the innovation of America’s true workforce – its go-getting private-sector employees, who long ago stopped expecting their bosses to give them real health and retirement plans.
“This legend of the lazy, budget-devouring public-sector employee as the cause of America’s fiscal crises has in many cases been carefully manufactured by Wall-Street-funded organizations. Their goal is to pretend that modest retirement benefits are the cause of pension shortfalls. They promote this story even though data show that stock market declines from fraud in the financial services industry were most responsible for those shortfalls.
“Pension initiatives put forward by these reformers and the conservative politicians they back often propose moving America’s public pension money. This is done in the name of saving taxpayer money, even though these “alternative investments” involve fees paid to billionaire money managers that are often nearly as high as the cuts to public worker benefits. Public workers are kept in the dark about where their money is being invested and about how much of their dwindling nest egg is being blown on fees for high-risk Manhattan hedge funds and private equity firms.”
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