Today's Ivins

Today's Seattle Times did not print the Ivins column mentioned below. It printed this Ivins column

Here's the Bush administration hot to sell us on a new program that is supposed to make us want to increase our savings, weigh down our piggy banks and beef up our 401(k)s. As usual with the people in this administration, what they want to do mostly benefits the rich. But even setting that aside, like, don't you think it would be helpful if they started worrying about the fact that our 401(k)s already are being looted by the financial industry?

Maybe they could even consider doing something about it. Such a concept.

Or maybe, Molly, they actually are doing something about it. From the SEC's website:

Nov. 4, 2003 SEC Brings Fraud Charges Against Former Prudential Brokers in Connection with Market Timing of Mutual Funds

Nov. 13, 2003 Putnam Agrees to Make Restitution and Implement Immediate, Significant Structural Reforms in Partial Resolution of SEC Enforcement Action

Nov. 17, 2003 SEC Charges Morgan Stanley With Inadequate Disclosure in Mutual Fund Sales; Morgan Stanley Pays $50 Million To Settle SEC Action

Nov. 20, 2003 Founders of PBHG Funds and Pilgrim Baxter & Associates Charged With Fraud in Connection With Market Timing of PBHG Funds

But, of course, Molly Ivins' fictional narrative and the editorial pages that carry it wouldn't be nearly as entertaining if they only dealt with the real world.

Posted by Stefan Sharkansky at November 24, 2003 07:00 AM