No thanks for this

From: "Wall St. Drooling Over Privatization "
by Dave Zweifel
Madison Capital (Wisconsin)
Nov. 24, 2004:

If you're wondering what all this Bush administration talk about private Social Security accounts is all about, you need look no further than Wall Street.

Thanks to Bush's win on Nov. 2, the industry that makes lots of money off of other people's money is already lining up to share in the spoils should the president get his way with his self-described "reform" of Social Security.

That, after all, is what it's always been about - freeing up tens of billions of dollars on which the big financial houses can earn commissions, taking that role away from the federal government, which, incidentally, has been able to administer the entire system at a cost of less than 2 percent of the assets...

If Bush would now allow wage earners to siphon a portion of their Social Security payroll deductions into their own personal private accounts, either another way must be found to make up for the shortfall that will occur for existing retirees - or benefits for those retirees and the widowed and orphaned will have to be cut.