Note that the relationship at the time was between firms and Wall Street brokers and traders mediated via pensions, rather than individuals. Firms and unions will have more leverage.
The present personal investment model (401k and similar) will, I suspect, be seen as one of the larger financial mis-steps of 20th century economic history. Its emergence itself was largely accidental.
The present personal investment model (401k and similar) will, I suspect, be seen as one of the larger financial mis-steps of 20th century economic history. Its emergence itself was largely accidental.