There's a scathing post over at the corporate blog of Vanguard, the big mutual funds company (and a big New York Times advertiser) eviscerating a recent New York Times editorial about 401K plans. From the Vanguard blog:
At one point, the editorial says that proposed 401(k) "reforms" would "shift risk that is currently borne by individuals onto corporations and the government." I'm sorry, but who exactly do they think is backing the risks borne by corporations and the government? Have we learned nothing in the last year? It's not like the shifting of risk is such that running it through corporate balance sheets or government accounts makes it disappear. Individuals are still ultimately going to bear it. The only question is which individuals.
Good point.
