Privatizing Retirement
Thirty years ago I ran the retirement business of Bankers Trust Company. BTCo. was founded in 1903 by J.P. Morgan (the man) and his other banking pals who thought it would be smart to put all their trust business in one institution that he and his pals controlled. BTCo. Grew to become the second largest trust bank in the country. When I was asked to take over the Retirement Services business with it’s 4,000 employees,…

