If the accounting scandal didn’t wipe it out…

We have a new scandal trying to drain your 401k long before you retire.

“It wouldn’t surprise me if there are shareholders who lost 5 to 10 percent a year,” said University of Mississippi law professor Mercer E. Bullard, who runs a shareholder advocacy group.

I actually watched C-Span for an hour and a half last night mostly in a state of enraged disgust as they went through some very dry explanations of how the mutual fund industry does not have any oversight and hasn’t since its inception. And not only are the wolves given free reign over the hen-house but you are encouraged to divert a percentage of your paycheck into this retirement account amounting to about $7,000,000,000,000.00 annually. What is 10% of 7 Trillion dollars? Answer: 7 BILLION dollars. What keeps these assholes from running down the street knocking working people to the ground and ass-raping them for sport?

When I am living in a box in the bad part of town I am warning you now…try to steal my stuff and I will stab you with my hobo knife!

PS: Want to read up on your funds? Check here.

4 thoughts on “If the accounting scandal didn’t wipe it out…

  1. I hate to tell you, but 10 percent of 7 trillion isn’t 7 billion, its 700 billion.

    Sorry

  2. You can’t see me right now but my face is flushed with embarrassment. Thanks, I needed that.

    Now I am about a hundred times more pissed off.

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