On May 5, 2026, at 13:39, Dennis Brasky via groups.io
<[email protected]> wrote:
> https://www.nytimes.com/2026/05/05/opinion/trump-retirement-private-equity-401k.html.
>
Thanks for posting this. I think it raises some important issues in the US and
other wealthy industrialized (or de-industrializing) countries, including the
financialization of the more privileged and middle sectors of the working class.
The systems of equity retirement funds that Steve Rattner describes divides
working people into those with financial assets and those who lack a retirement
fund, stock and bond portfolio, and especially a house or multiple houses like
a hunting cabin or beach house. The people with assets are highly stratified; a
worker can always see who is worse off as well as the many who are better off.
The system of working-class asset ownership reproduces racism and white
supremacy in the US https://apps.urban.org/features/wealth-inequality-charts/.
All that being the case. Rattner knows what legislators have long known and
legislated to prevent: Companies fleecing people of their savings and leaving
them to be compensated with public money. But Trump is the fleecer-in-chief.
Rattner produced some nice charts recently on Trump's crypto scams.
Mark
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