badgolferman wrote:
RALEIGH � Democrats in the U.S. House have been conducting hearings on
proposals to confiscate workers� personal retirement accounts �
including 401(k)s and IRAs � and convert them to accounts managed by
the Social Security Administration.

http://www.carolinajournal.com/artic...y.html?id=5081

How about we add the second paragraph:

"Triggered by the financial crisis the past two months, the hearings
reportedly were meant to stem losses incurred by many workers and
retirees whose 401(k) and IRA balances have been shrinking rapidly."

Doesn't sound so bad anymore does it?

I bet if you were 63, and it was your 401K's value going down the
toilet, you would be first in line SCREAMING for the government to
step in and bail your ass out.