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Cafferty File: Privatizing Social Security

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From the Cafferty File:Bear Stearns, Lehman Brothers, Merrill Lynch, AIG, Fannie Mae and Freddie Mac.The crisis on Wall Street is enough to rattle any investor Let alone one who is about to retire or whos already living on a fixed income.401(k)s and pension plans — many of which have exposure to these troubled companies — are taking huge hits as a result of this mess.Luckily we have the safety net of Social Security to fall back on For now.You may remember just four years ago President Bush made a big push to partially privatize Social Security You know so we could individually invest our future with the great minds on Wall Street. It failed back then, but that concept could still become a reality. See John McCain also supports supplementing Social Security with private investment accounts. His opponent Barack Obama does not.Heres my question to you: In light of the failures of large financial institutions, is privatizing Social Security a good idea?

Channel: News & Politics
Uploaded: November 30, 1999 at 12:00 am
Author: heathr456

Length: 03:17
Rating: 4.93
Views: 35396

Tags: Cafferty  File  Jack  Privatizing  Security  Social  

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ShaneVicious420 (November 30, 1999 at 12:00 am)
Privatizing Social Security would be like giving your car keys to a car thief. Where did the idea that Wall Street was perfect, come from ?
overmind25 (November 30, 1999 at 12:00 am)
It is not a safe net. It is an illusion. The state allying with the corporations was part of the problem. Increasing regulations will only make the problem worse. The state will just selectively enforce regulations like it does now. Abolish the monopoly. Abolish the state. It is just a tool of the rich.
senorfish4 (November 30, 1999 at 12:00 am)
i'd take a bullet for two people- cafferty & ron paul
sky21448 (November 30, 1999 at 12:00 am)
How about no Social Security? Not Government, Privatized, But Personal Social Security. Learn how to save your own money!
mainebay (November 30, 1999 at 12:00 am)
And here is another lie democrats tell the dumb voter. They support the poor. Just check out the sales tax in the home state of Obama full of democrats . They raised the sales tax. . Over 10 percent. That doesn't effect the rich . That effects the poor
mainebay (November 30, 1999 at 12:00 am)
No it's not. You need to good financial adviser. And Nesnman is correct. The pension plans that the Senate and Congress have are invested in the stock market. It goes up and down but it goes up much more then it goes down. Gambling is the lottery, and that is stupid if you buy a ticket.
Licmycat (November 30, 1999 at 12:00 am)
It is gambling...unless you have inside information that tells you how stock is going to do....and if you do....you've committed a crime as that is called 'insider trading' and is illegal.
Licmycat (November 30, 1999 at 12:00 am)
BTW; everybody knows EVERYONE'S living on a 'fixed' income! Depends on who's doing the fixing and who's gotten their fix in or who can GET a 'FIX'!!
nesnman (November 30, 1999 at 12:00 am)
The stock market is not gambling. I have owned stock since 1986 and I have done very well. Buying a lottery ticket is dumb and gambling. And Democrats love that king of gambling.
Licmycat (November 30, 1999 at 12:00 am)
No wonder they did this illegal bailout for the stock market. That's the dumbest thing I've ever heard of. Stock market IS gambling and so is immoral. That's why our country is going down the tubes. Disgusting.

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