In a short conversation this noontime that CNBC apparently has omitted from their archives, Rick Santelli discussed the potential for the government to effectively force money into the Treasury market. Where would they get this money?
Your nest eggs!
From Businessweek:
The U.S. Treasury and Labor Departments will ask for public comment as soon as next week on ways to promote the conversion of 401(k) savings and Individual Retirement Accounts into annuities or other steady payment streams, according to Assistant Labor Secretary Phyllis C. Borzi and Deputy Assistant Treasury Secretary Mark Iwry, who are spearheading the effort.
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