This would be catastrophic for a few reasons. First, a good portion of funds invested in the market are now government property. Second, if you tried to take money from folks’ plans, they’d just take their money out of the plans. And third, they’d probably kill you for trying.
May 5, 2010
401(k) and union retirement
[I’m not sure about the first point. I’ll take his word for that.
I have some questions on the second point–money and most hard assets such as your home and vehicles are far too easy to trace.
On the third point I suspect he is spot on.–Joe]