Unveiling The Depths Of Wall Street's Corruption

Another shocking expose by the author of The Pirates of Manhattan, the author exposes the ongoing destruction of retirement income by Wall Street in general, and BlackRock in particular.

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BlackRock, is the Pied Piper leading the charge for putting private assets into your 401(k) account.  

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The guardrails that once protected the American consumer are being torn down. The SEC is useless when it comes to looking out for the little guy, and is beholden to banks, asset managers, and Wall Street. The Consumer Financial Protection Bureau, which is supposed to look out for Main Street, practically does not exist anymore.  Private equity and private credit, the most popular alternative investments pushed on investors are for the most part unregulated. Yet private credit--which are private loans to private companies, whose major use is to fund debt-propelled leveraged buyouts, are the canary in the coal mine of the next financial downturn.  Once a popular investment which promised safe returns around 9 percent, private credit is turning into another bust.

 

America has lost its way and has forgotten the most important purpose of retirement planning, which is to provide secure lifetime income for retirees and their families.