Private equity wants to get into your 401(k). Trump might let them.

The private equity industry wants to get into your 401(k). The industry is lobbying the Trump administration to issue an executive order that would open the way for retirement plans to add private equity investments. The effort brings to mind Groucho Marx’s famous observation, “I don’t want to belong to any club that will accept me as a member.” Why would this supposedly elite investment class want the Trump administration to make it easier for small-time savers to invest in their offerings?

The answer, as you might suspect, is nothing good. READ MORE