Irony alert – Before becoming a U.S. Senator (D-NJ), Jon Corzine was the CEO of investment firm Goldman Sachs. Corzine spent his career urging investors to place their faith and money in his hands with the promise, one supposes, that private investment would yield a greater return than stuffing cash into a mattress. It’s probably safe to say that Corzine doesn’t have to worry about his golden years.
But now, Corzine declares private investment through personal accounts a terrible idea and that Americans should be happy with their meager return on government-controlled Social Security. What a tool.
1 comment:
There is one very simple way for Senator Corzine to show his faith in Social Security. All he has to do is push for a law that allows workers (such as himself) to buy earnings for their Social Security account. If he really thinks putting an extra $100,000 of his own money into the Social Security trust fund will provide him a better return then placing it with Goldman Sacks, then he should be free to do so.
Somehow, I think its safe to say we'll hear a "thanks but no thanks," from him.
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