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That was just one whacky proposal by a person testifying at a House
Committee on Education and Labor hearing. I don't think you need to
start cashing out your 401(k)s.
Having said that, her proposal was eerily similar to Argentina's
confiscation of private pensions, wasn't it. It's not unwise to keep
an eye open for this kind of action if the bail-outs intensify without
success.
From: Howard Bernstein <hbernst963@xxxxxxx>
To: realtraders@xxxxxxxxxxxxxxx
Date: Saturday, November 8, 2008, 10:47:56 AM
Subject: [RT] Dems discuss confiscation of 401(k)s and IRAs
http://www.carolinajournal.com/articles/display_story.html?id=5081
Howard Bernstein
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