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pensions

This was totally unexpected! Totally!

by: Michael Marsh

Tue Mar 31, 2009 at 08:10:15 AM EDT

(Not a NH-based story, but an important one, and one that reaffirmed my ability to be shaken to the core by Bush era malfeasance. - promoted by Dean Barker)

One of the signs that our late, unlamented president was losing his Capitol Hill mojo was when Congress rejected his cockeyed plan in 2005 to privatize Social Security by investing our tax money in Wall Street. Bush argued that those who opposed this plan had no faith in the markets, but ultimately good sense prevailed and he didn't get his way.

Unfortunately, Bush did not lose his personal belief in the magic ability of "the market" to solve all problems. In 2007, he appointed an investment banker from Lehman Brothers who shared his belief named Chuck Millard to run the Pension Benefit Guaranty Corporation along proper free-market principles.

There's More... :: (5 Comments, 408 words in story)
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