Argentina Spreads The Wealth

With Congress eyeing 401(k)s and Barack Obama decrying "corporate greed," it might pay to look at Argentina's pension nationalization. The country's mediagenic socialist president, Cristina Fernandez de Kirchner, announced Tuesday the state would "protect" private pensions from "policies of plunder" by proposing to hand them over to the government.(Snip)

U.S. Democrats in Congress are mulling like-minded moves to scrap 401(k)s and transfer them into government-managed "guaranteed retirement accounts" --- with a 3% return.

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