Jacobin Mag reported:
When former president Donald Trump paved the way for his private equity donors to skim fees from Americans’ 401(k) retirement accounts, Joe Biden’s campaign denounced the stealth executive action and promised to oppose such changes if he won the presidency. But less than two years later, Biden’s administration just quietly cemented that same policy, delivering a gift to the Democrat’s own finance industry sponsors, even as federal law enforcement officials are warning of rampant malfeasance in the private equity industry.
If the greed and leverage boys want access to my individual retirement account I want a crystal clear picture of their fees. They seem to have a problem with that.
Politicians Red and Blue love PEU and many are one.
Update 2-26-22: Employees have to make enough money to contribute to their 401k accounts. UPS executives reduced part time worker pay by $5 an hour. Ouch.
