How Bad is the L.A. Times? Part 1

Read this completely non-sensical article by business columnist Michael Hiltzik.
I can't imagine a more backwards, illogical commentary on employee retirement security.
Because of the current pension issues in corporate America, that's why we NEED private accounts and not solely rely on corporate or government pensions.
United employees who invested in private accounts (401-Ks, etc) still have the money they put in it for retirement, their pension is what is at risk now.
Enron employees still have their 401-Ks mostly intact, it's their pension they lost in the bankruptcy.
If employees want real retirement security, they need to diversify AWAY from government and corporate obligations and take more personal responsibility for their future by investing in private accounts that they can maintain and pass onto heirs if necessary. As opposed to putting their retirement at great risk due to potential corporate or government malfeasance.