“and one has to ask how using money from treasury bonds isn’t also winding up in congressional pockets as the money they ‘borrow’ goes towards general funds”
That’s a risk with all gov’t spending but it can be tracked when it’s done within an agency. Once it gets outside to a private firm there is far less accountability.
“I don’t know much about how that works, but isn’t there a situation where there are silent shareholders/investors?”
Class B non-voting stock. But there is no way that public funds should ever be put in that. In the event of bankruptcy that’s the last in line to be made whole. Class B stockholders would receive nothing. It would be a violation of fiduciary responsibility.
“Provided you invest it all- that would be true- however, even Clinton toyed with the idea of investing a portion of SS in private markets”
Clinton proposed partial privatization as did Dubya. And the quote you posted illustrates that Greenspan criticized it for the same reasons I’ve brought up. It puts the SSA in the position of voting on or controlling corporate policy, and considering the amount of money involved the SSA would be able to control a significant number of corporations.
The same leftwing activists who now use the EPA and the IRS to advance their agenda would flock to the SSA’s investment committee and they would have even more power to force their agenda on the country. And when it wasn’t the Left in control it would undoubtedly be the likes of the US Chamber of Commerce, another group with absolutely no interest in the American people.
[[The same leftwing activists who now use the EPA and the IRS to advance their agenda would flock to the SSA’s investment committee and they would have even more power to force their agenda on the country.]]
I don’t understand how special committees/programs would have access to it?
[[Clinton proposed partial privatization as did Dubya. And the quote you posted illustrates that Greenspan criticized it for the same reasons I’ve brought up.]]
Yeah but the article listed went into some detail why it could work- I believe-
[[Class B non-voting stock. But there is no way that public funds should ever be put in that.]]
Well like I said, I don’t know much about things like that- I am still lookin for that article- seemed like the writer knew about how it could be possible to invest with safeguards-