Originally Posted by flyguy1

Please tell me why this can't happen here. Only 3% of the population have a significant 401k. When 97% of the country doesn't have enough money to retire, there would be zero political pressure to stop this move. Two Senators, one from Iowa and one from out east have already proposed this here. Our money would be used to shore up the public pensions.

I disagree that the 2010 election was about stopping this type of takeover. It was about a majority wanting the government to stop spending on other peoples projects, not their own pet projects. For example, look at the amount of people on various forums calling for government takeover of the airline industry..ie re-regulation.