Gawker.com, "we are talking about teachers and other thoroughly middle-class people who have worked for decades, and whose retirement money is being systematically plundered by Wall Street fees, thanks to bad pension fund management."
Rather then government pension plans controlled by financially ignorant beholden politicians, government workers should be allowed into the Social Security system, 401k plans or private savings like their private industry counterparts.
There's No Such Thing As Free Money
Workers should only invest in FDIC insured CD;s and savings accounts. Common sense should dictate if any of these phony baloney advisers could earn double digit returns for themselves without working for it, they wouldn't need to show up every day in the office kissing peoples' asses trying to get a hold of other suckers' money.
While these private investment charlatans may show investor's double digits returns they are less obvious about the five fees which knock down returns many could have gotten on their own savings w/o taking any of the risks.
The reason why so many taxpayers and current retirees are such dire straits can be attributed to these con artists.
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