Naked Capitalism has the post 401(k) Plan Abuses Finally Coming to Light. The post starts with the following:

I doubt that I’m unusual in being a finance type who has heard about 401 (k) abuses and bad practices for a very long time. So it’s gratifying to see the Financial Times that something is finally being done to try to curb this behavior. But that is hardly the full extent of what is rotten in retirement fund land.

I have also known about some 401(k) abuses for a long time, but I hadn’t known about all the details of what can be done to turn a company’s 401(k) plan into a profit center for the company itself.

Perhaps it is time for a new Greenberg’s Law of Capitalism – “If there is an unfair advantage to be wrung from the capitalist system, then some capitalist will wring it.”