Remember when Randy Kuhl was pushing Bush’s Social Security Privatization plan?
Remember when Randy Kuhl was pushing Bush’s Social Security Privatization plan…before he supposedly changed his mind?
Now, I know, privatizing social security is a dead issue. We are on to other things like SCHIPS, Iraq (well it is still there), working our way to Iran (it’s coming).
Well, faster than you can pull the song Imagine from a web site - Imagine if Social Security was privatized? Imagine if Wall Street managed Social Security.
Chris in Paris over on Americablog had a wonderful write-up.
….but considering some of the incredibly bad decisions the “experts” on Wall Street have made lately, is this the team we really want? Social Security may not be much, but most Americans would be unable to cope with such staggering losses.
Washington Mutual - 75% drop
Merrill Lynch - $5 billion write down
UBS - $3.4 billion loss
Citigroup - 60% decline.
Deutsche Bank - $3.12 billion write down.Can you imagine the rubbish they would be pushing on average Americans who are trying to build and maintain their social security plan? If they can’t even practice common sense in banking - their profession - why should the American public trust them to take care of something as important as Social Security?
Make no mistake - it will come back. Billions of Federal dollars is a tempting target for Wall Street.
PRO PATRIA VIGILANS (just google it for the meaning). We need to watch over it, not give it away.
stlo7 ….. OUT
[...] Imagine if Social Security was invested in the stock market? Which local Congressman was pushing Privatization of Social Security? Why, that would be Randy Kuhl. [...]