Posted by
Contrarian Guitarist on Thursday, October 16, 2008 12:18:43 PM
With the collapse of the stock market there are literally hundreds of articles and blogs trumpeting how bad it would've been had Bush been able to privatize a portion of social security. Imagine the losses! A couple thoughts, first, if Bush had some managed to get congress to pass changes that would allow future retirees the ability to invest a third of their "savings" in the stock market, it wouldn't have gone into affect until next year anyway. There would've been some good deals out there. And second, didn't the federal government essentially privatize all of social security by so heavily tying the future of the government to banking, financial and insurance stocks?