Tuesday, February 20, 2007

Bush's greatest legacy?

An interesting article on the enormous impact of Bush's push for an ownership society and the passage last year of a law which will have immediate benefits here.

The Pension Protection Act made several key changes to defined contribution and defined benefit plans which has forced Morgan Stanley to increase their forecast for net equity defined contribution flows from $11 billion in 2008 to $30 billion. If you are keeping score this is a 172 percent increase in annual net flows. Very positive for growth, wealth creation, and retirement savings.

From 11B to 30 B. That's big, really big.


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