Tuesday, January 4, 2011

Money for Washington?

The Christian Science Monitor reports on the European states confiscating private pension plans.

People’s retirement savings are a convenient source of revenue for governments that don’t want to reduce spending or make privatizations. As most pension schemes in Europe are organised by the state, European ministers of finance have a facilitated access to the savings accumulated there, and it is only logical that they try to get a hold of this money for their own ends. In recent weeks I have noted five such attempts: Three situations concern private personal savings; two others refer to national funds.

Possibly this will give some ideas to the folks in Washington.

Dreadful thought, but then there is the Tea Party .... it may not happen ...