The war on your 401k seems rooted in the ideas of a Teresa Ghilarducci, of The New School for Social Research.(NSSR) According to the NSSR's home page, it is her idea:
"Teresa Ghilarducci, an economist at The New School for Social Research, has won attention among lawmakers nationwide for her tough stance against 401(k)s"
This goes back to 2008 and probably before, but it's who makes it prominent that gets the credit. Levin did an interview with Ghilarducci back in 2009 which is quite interesting and honest, on her part.
So who is this "New School for Social Research"? Where does it come from? They'll tell you. Here's a Message from the Dean, and here's what the Dean has to say:
Visionary thinking has been at the heart of our school since the founding of the New School for Social Research in 1919. The founders and early teachers included leading progressive scholars of the day: John Dewey, Thorstein Veblen, Charles Beard, Franz Boas, Harold Laski, and others.
Harold Laski is known to be involved with the Fabian Society as early as 1914, according to Margaret Cole, Fabian Historian and author of "The Story of Fabian Socialism". Her book is largely written in order along a timeline.
Laski would ultimately serve as Chairman of the Fabian society from 1946 to 1948. (also see Cole, Page 250) The Dean is somewhat ambiguous about the list of names and their involvement, so just to be clear about Laski: (1) (2)
Laski taught there after it's founding, as did other noted Fabians Graham Wallas and Bertrand Russell, not to mention the future President of America's Fabian Society, John Dewey.(Dewey, who is mentioned above by the Dean)
You can't get good fruit off of a bad tree, and the wolves in sheep's clothing eyeing your 401(k)s like a pork chop seems to be a clear way to prove this. The New School tree planted 100 years ago is bearing some very bad fruit.
http://tinyurl.com/bjko7dv
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