A recent study by Boston College’s Center for Retirement Research found that the typical household approaching retirement age has an average of $120,000 in retirement savings, enough for roughly a $7,000-a-year annuity.
On top of that, 401(k)s entrust critical investment decisions to people who have no idea what they’re doing and most end up getting gouged by mutual-fund industry fees.

Insider trading charges are being used to get people to talk and to then put Steven A Cohen in jail. He is in part for manipulating the stock settlement system and orchestrating the bear raids on Bear Sterns, AIG, Lehman Brothers that turned a recession into a global financial meltdown.
Hedgefunds related to SAC even paid off the CJR to downplay the crimes...
http://www.deepcapture.com/michael-milken-redux-indictments-on-the-horizon-for-sac-capital-and-others-in-its-destructive-hedge-fund-network/
#1 Posted by Jacob Levy, CJR on Wed 16 Jan 2013 at 07:57 PM