Nathan Newman reports some good news:
A federal district court in Texas ruled on Wednesday that Ken Lay and other Enron executives are liable to former employees for concealing the collapsing financial situation of Enron, and encouraging employees to keep their 401(k) savings in the stock…
And some bad news:
A proposal to exempt employers from liability for investment advice provided to employees by the same company that administers the employer’s 401(k) retirement plan … was introduced for the first time in the Senate the same day as the Texas court decision.
My emphasis there — just in case you thought Republican politicians (Sens. Mike Enzi (R-Wyo.), Kit Bond (R-Mo.), Rick Santorum (R-Pa.), and Health, Education, Labor, and Pensions Committee Chairman Judd Gregg (R-N.H.)) cared about the interests of anyone with less than a six digit salary…
