Stock Market Declines Aren’t The Only Dangers To Your 401(k) Savings

NPR had an interesting story covering bank regulators. I was stunned to discover that all bank regulators are paid by the banks. They compete against each other to get the banks to "buy" their regulatory services. They have to make themselves attractive to the banks. Therefore they regulate the "bank customer" the way the bank wants them too.

It was a regulatory reform bill President Bill Clinton signed as he was leaving office.

Big oops there.

I am amazed that a writer for the Huffington Post would admit that future tax rates and entitlement spending make long term investing very uncertain. That future tax rates may eliminate any tax advantage that 401K's have.

"I am amazed that a writer for the Huffington Post would admit that future tax rates and entitlement spending make long term investing very uncertain."

Bad editing, Superdestroyer. Huffington is not, after all, noted for quality control in any real way.

And why are fewer people going into Roth IRAs than some experts would expect and many would want?

Well, does anybody believe that what's promised _now_ to be tax-free later will remain tax-free later?

Superdestroyer, read on, to the last part of what follows. It's not just Huffington who might discover reality now, possibly from current Obama era events:

As far as the Big Banks -- these people are ingratiated with Obama and part of his team, so let's be as realistic with these people (gee, who are the "large" bondholders who get big chunks of the failed Detroit auto makers and parts makers like Lear, while the small bondholders get the Chavez treatment?) as maybe at last, some in the media like Helen Thomas (D), are discovering about Team Obama's manipulation of the media and expecting them to continue their irrational honeymoon adoration of Obama.

Check your bank statements now. Mine tried some bullshit with a buncha little charges, buck or two a month but I don't have stock in their money mill. Been reversed, I, also, now have a "personal banker" with my little two bit account. Calling up the bank president's wife at her unlisted number and screaming about my problem worked just fine. Cost me some money, about $150. I'm not a good friend but I'm a great hater.

"While I strive every day to not fall prey to complete cynicism, the task becomes more difficult with each revelation of how the world works."

Or as Lilly Tomlin put it, "no matter how cynical I get, I just can't keep up with reality."