I completely agree. I'm not be arbitrary with my comments either though. Our 401K based retirement system  puts a LOT of people at risk when it comes to bad policy. A market failure would be construed as a national security issue. After 17 years in Naval Spec Ops I graduated top of my class with a degree in finance, a CFP, etc.....but it was 2009. So I went to work for the only place hiring....the Fed Gov...while I grew my personal practice / RIA. Needless to say, with my unique background, the promotions in Fed Gov never stopped. I'm out now, but I did nearly 30 in the Fed Gov, much of it at fairly high levels, and I know about how things work during various "situations."  At the end of the day, they are just people. AND, unfortunately, they often have much Less talent and technology backing them up than you might imagine.