Wall Street, the lobbyist with the deepest pockets, owns Washington DC ... both parties ... all three branches of government.
From Wall Street's perspective Social Security needs to be privatized for a number of reasons.
1) Wall Street is a Ponzi. Ponzi's need fresh Capital to keep them from collapsing. Privatizing SSI would mean money coming out from paychecks and employers would go directly into Wall Street on a constant basis to prop up its Ponzi.
2) While Social Security guarantees payment to Americans who reach retirement age, Wall Street would provide no such guarantee. Anyone with a 401k knows what happened to it with the crash of 2008. A Wall Street managed retirement plan would be susceptible to the same caprice of the boom/bust cycle.
3) Privatized Social Security would create a Wall Street that was "Too Big To Fail". With the American people's retirements tied up with Wall Street the US Government would be obligated to intervene every time Wall Street's fraud crashed the economy.
Wall Street hungers for the SSI Trust fund and the constant payroll contributions for it knows there are no meaningful regulations in place to prevent a crash like 2008. If they haven't captured Social Security before the next crash they might never be able to.
Read the Article at HuffingtonPost
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