Securing Pensions I: the cult of bad ideas. (Enron Capitalism And How To Fix It).(Brief Article)
American Prospect, The, March, 2002 by Faux, Jeff
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THE ENRON SCANDAL SEEMS LIKE A heaven-sent opportunity to reform the business excesses of our recent Gilded Age. But the fetish of markets retains a powerful grip on the American political psyche. Already, corporate lobbyists, elevating stock-market gambling to the level of a fundamental human right, are undercutting modest efforts to prevent future abuses of 401(k) pension plans--which for most Americans is the heart of the Enron matter.
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These tax-subsidized "defined contribution plans," virtually the only job-related retirement programs now being offered to ...
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