In article , F. George McDuffee
says...

I have had my 401k money invested in mutual funds that I thought
were at least honest, although they did have slightly low
returns. It was only much later that I learned these funds were
engaging in "late-trading" with preferred customers, thereby
skimming my profits.

Stories like this one make it abundantly clear why a) the financial
world was slather at the mouth to have social security privatized,
and b) why that plan crashed and burned as rapidly as it did,
in spite of all the push by the folks hired to see it implimented.

Jim


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