I reviewed the plan linked to this article. I do not think they are
talking about confiscating anything, but only setting up new plans
for people who are not covered by 401(k) plans. I see nothing here
about converting existing plans or changing the management of them.
Anyway, Obama is a conservative person and I am sure he will not go
for anything radical. His proposals for health care will not put the
insurance companies out of business, the way many European plans did,
decades ago. Whatever they come up with it would not be as bad as
Bush's idea of investing Social Security savings in the stock market.
Imagine where we would be if they had done that?
- Jed
