The American public was hoodwinked: 401(k)s were established to satisfy corporations, not the interests of working Americans. Portrayed as a perpetual wealth machine, the 401(k) was meant to satisfy the needs of every employee. Yet, it was an impossible promise to fulfill: It was the great 401(k) hoax. According to William Wolman and Anne Colamosca, this was the latest act in the gradual erosion of the nation's retirement system. Drawing from reams of historical and contemporary data as well as economic, social, and political trends, they reveal the system's troubled 100year history. Beyond exposing the hoax, the authors urge everyone to take charge of their investment portfolio and recommend strategies for beating Wall Street at its own game. Timely and incisive, "The Great 401(k) Hoax" is guaranteed to inspire debate and action-from the water cooler to the boardroom to the voting booth.
- ISBN10 0585482160
- ISBN13 9780585482163
- Publish Date December 2003 (first published 8 May 2002)
- Publish Status Active
- Publish Country US
- Imprint Basic Books (AZ)
- Edition 1st pbk. [ed.]
- Format eBook
- Pages 273
- Language English