2/22/2013

Obama Admin Eyeing Confiscation of Americans' 401K's and IRA's

Posted by Brian

So you think your retirement accounts are yours? Think again!

February 22, 2013
The Feds Want Your Retirement Accounts 
By John White
Quietly, behind the scenes, the groundwork is being laid for federal government confiscation of tax-deferred retirement accounts such as IRAs. Slowly, the cat is being let out of the bag.
Last January 18th, in a little noticed interview of Richard Cordray, acting head of the Consumer Financial Protection Bureau, Bloomberg reported "[t]he U.S. Consumer Financial Protection Bureau [CFPB] is weighing whether it should take on a role in helping Americans manage the $19.4 trillion they have put into retirement savings, a move that would be the agency's first foray into consumer investments."  That thought generates some skepticism, as aptly expressed by the Richard Terrell cartoon (Above) published by American Thinker.
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