The New York Times had a story the other day about how Wall Street firms have been secretive about their support for Social Security reform. The Times' point is that these firms stand to gain from the kind of changes President Bush and others are talking about, since money would go into private investment accounts. Therefore, the reform is suspect precisely because Wall Street investment houses would benefit.

That prompted this thought: When did the Times last point out that politicians who oppose changes in Social Security are also acting for their own benefit? Social Security is a potent source of political power. For example, it's great for buying votes and it gives members of Congress lots of money to play with (or it has until now). It's also a source of clout for AARP, which opposes any change as well. But don't wait for any newspaper to point that out.

Max Swing - 12/23/2004

Is it not? Well, but the decision who will benefit in the Wall Street department will not be met by the market, but rather by some politician boy out there in Washington...

M.D. Fulwiler - 12/22/2004

There are some good arguments agianst Bush's plan, but the fact that Wall Street stands to make money off of it is not one of them.