Wall Street Fees Robbing Retirement From Seniors – How The 401k Is A Payday For Bankers

http://www.addictinginfo.org/2013/04/26/wall-street-fees-robbing-retirement-from-seniors-how-the-401k-is-a-payday-for-bankers-video/

The American Dream is dead, and Wall Street has killed it. From the dream of home ownership, the dream of a good education to the dream of a good paying job, the root of the collapse of the American Dream can be laid at the feet of greedy Wall Street execs. 

Wall Street has pushed for laws and policies allowing them to legally rob from the middle classwhile stagnant wages have pushed millions into poverty. But as the Baby Boomers reach retirement, a new problem rears its ugly head as it turns out that the same Wall Street bankers which engineered the death of the other aspects of the American Dream have also takenhundreds of thousands out of their retirement accounts, eliminating the dream of a comfortable retirement for millions of Americans.

corruption has been apart of every potentially exploitable thing that deals with society, and we have for as many centuries been subject to those who impose. 

we vote blindly and willingly against our own interest, than most are too ashame to admit they screwed up. voting because....... you fill in that one, is never a good vote, if the consideration of what is really good for all sides then it won't be a vote because it would be a vote of thought and consideration.

we all so have yet to learn that we need to be careful what we wish or vote for, 44 Presidents and half the country still wants the days of old.

PBS’s Frontline looked into this, after studies found that the compound fees within mutual funds were causing hundreds of thousands of dollars to be taken out of people’s retirement accounts, put straight into Wall Street bankers pockets. What they found was that not only was the study accurate, but that it has been only getting worse.

For a simple recap, Wall Street applies compound interest on any mutual funds it manages. This in turn adds up over time. Using thecompound interest calculator from Money Chimp we can find that, using the maximum donation of 15% on someone making $44k a year using an average 6% return, but switching from a 3% annual fee to a 1%, it can bring a 40 year savings for retirement from $1,199,777.42 to $700,413.56. That is almost $500,000 of your money which went into wall street banker pockets, money intended for your retirement. 

there are no friends or those looking out for you in the financial world, if one shows compassion two things can happen either they are fired or someone above their pay scale says no, kinda like Beohner and T-Party congress, remember when you punch in that pin, sighn that check or open your wallet or purse there is always someone at the end of the line who's job it is to slap you down or make the small print so small you'd need an electronic microscope to read it then the verbiage in unintelligible because it's written by lawyers.