Theos-Talk Archives (July 2002 Message tt00056)

Recently there was piece in the TV, which in addition pointed out that 
current SS System includes disability and survivor benefits and if one were 
to go into open insurance market and buy these coverages, the total costs 
outweigh any potential benefit that may accrue from investing funds outside.

The kind of money the "investment bankers" make is outrageous. There were 
some cases of attorneys working in the investment banking legal work quit 
law practice and went into investment banking when they saw the money they 
can make. Of course there would be defenders of open market who claim that 
they are being paid what is worth in the open market.

mkr

At 07:14 AM 7/5/02 -0700, Steve Stubbs wrote:
> Whatever Prescott Bush made out of that is a pittance
> compared to what somebody will make if one of W's
> schemes ever gets enacted into law. W wants to take
> the money from the Social Security Truth Fund and give
> it to investment bankers in New York, heh, heh. You
> can write the end of that story yourself. The entire
> Thyssen fortune would be a drop in the bucket compared
> to the sums we are talking about here, and the
> investment bankers need that money badly since they
> can no longer pay their low level people $25,000,000
> bonuses at Christmas and stuff like that. If that
> scheme ever comes off I am changing careers and going
> into investment banking! "Investment banking" for the
> benefit of those not familiar with Wall Street means
> ordinary people will lose their investments, but the
> top dogs are going to do some banking and how. The
> real hoot is that the money that will be sent to New
> York will be first taken from you at gunpoint.
> (Social Security contributions are not voluntary.)