Quote of the day (on Social Security)
From Taking Note:
One good thing to emerge from this week’s market turmoil is that it lays waste to the argument that privatizing Social Security is in everyone’s best interest.
Amen to that.
Just try to imagine what would have befallen Social Security recipients if their income had been dependent on the shell game artists responsible for the current financial crisis. Imagine the social and economic collapse that would have happened if Social Security funds were invested in Fannie Mae stock, Freddie Mac bonds, or AIG securities.
The ridiculous notion that the Wall Street geniuses (and their enablers at the Fed) who have brought us to the brink of financial catastrophe should be given the responsibility for Grandma's monthly income may have had the final, well-deserved nail driven into its coffin.