Elizabeth Warren is also worried about Fidelity's plan to offer bitcoin in 401(k)s

[Yo_Mama_Been_Loggin]

Bitcoin is notoriously volatile. But it may also prove politically vexing for Fidelity, which is getting blowback from two senators for its recent decision to offer bitcoin as an investment option on its 401(k) platform.

Massachusetts Sen. Elizabeth Warren and Minnesota Sen. Tina Smith sent a letter to Fidelity this week asking, among other things, why it didn't heed earlier concerns by the Department of Labor on the issue of including cryptocurrencies in 401(k) retirement accounts.

"Why did Fidelity ignore DOL's 'serious concerns regarding the prudence of a fiduciary's decision to expose a 401(k) plan's participants to direct investments in cryptocurrencies'?" the senators wrote.

Last week, a top DOL official reiterated the agency's worries that Americans' retirement security could be put at risk. "We have grave concerns with what Fidelity has done," Ali Khawar, acting assistant secretary of DOL's Employee Benefits Security Administration, told the Wall Street Journal.

https://www.msn.com/en-us/news/politics/elizabeth-warren-is-also-worried-about-fidelity-s-plan-to-offer-bitcoin-in-401-k-s/ar-AAWY1gp

My retirement account is with Fidelity. If my advisor suggests Bitcoin I'm going to tell them where to stick it.

[smirkymonkey]

1. I trust Elizabeth Warren. I thought Fidelity was more prudent than that (I used to work there).

I wonder who is making these decisions?

I have a feeling Ned Johnson would be turning over in his grave and his daughter Abby doesn't seem like the type to make such a careless decision, although maybe she is being influenced. Who knows. I still think it's a bad idea.

[Samrob]

2. Setting up another way to steal your retirement. nt