Monday, January 19, 2015

Dept. of Labor lets criminals manage pension funds

I know, this sounds like a paranoid conspiracy theory but it's actually true. Ralph Nader's article on this reveals the US government's blatant complicity in not only letting criminals get away with their illicit deeds, but encourages them to keep it up. Credit Suisse admitted to criminally aiding and abetting 22,000 wealthy US taxpayers avoid from paying their fair share, thereby placing an undue burden on the rest of us taxpayers. Sure, they paid a $2.6 billion fine, but that was miniscule to the profits they made on the criminal activity.

So the Dept. of Labor (DOL), which is bound by Employee Retirement Income Security Act of 1974, must not allow such lawbreakers to manage retirement funds. Unfortunately the DOL has given waivers to such criminals to do just that with our hard-earned retirement savings. They have already given Credit Suisse a temporary waiver for this purpose. I don't see that there is any legitimate reason for this, as such criminal corporations have given every indication that they'll abuse such funds as they did in the big crises on 2008, where many of us lost a lot of our retirements due to again criminal behavior.

If you think the DOL is also engaging in criminal activity but allowing this, please contact them at the link Nader gives and give them a piece of your mind.

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