The 401(k) System: Great for Wall Street, Bad for Retirees

[CoffeeCat]

7. Yes, so many have dipped into their 401ks...

...as the economy has tanked. There is a 30 percent penalty on all monies that are withdrawn before
retirement age. That is so outlandish...30 percent! I think the mafia might charge less from one of their
loan sharks.

I am wondering...how do you know (or not) if you are being charged fees for your 401k? We get a statement, but
I have never noticed any mentions or costs listed for fees. How would someone go about finding out if they have
been charged fees?

And yes, as someone else said--Bush/Cheney really ramped up an effort to turn Social Security into a boon for Wall Street.
We would have had the option of our Soc Sec going straight to Wall Street. This was BEFORE the economy tanked!!!
Does anyone talk about the implications of what would have happened to so many people if Bush/Cheney had realized
their dream of privatizing Social Security? And they almost got away with it. Right-wing radio had convinced the
useful idiots that it was THEIR MONEY and that THEY WANTED TO DECIDE what to do with it...damnit! Those fools never
realize that the right wing will use them and spit them out--in order to enrich their Wall-Street buddies.

I can't imagine how many billions Wall Street would have made if Soc Sec was partially privatized. People would be even
more poor and in trouble than they are now. Anyone who doesn't believe that they're culling the herd--by driving the
lower 80 percent into destitution--is living in Pollyannaville.