bobbyw24
05-10-2011, 04:41 AM
WASHINGTON -- Alan Simpson’s cold relationship with AARP is no secret, but the former Republican Senator from Wyoming took it to a new level Friday. At an event hosted by the Investment Company Institute, Simpson delighted the finance industry audience members by aiming a rude gesture at the leading lobby for senior citizens.
Financial and investment interests have long been supportive of Simpson’s broad critique of Social Security, since privatizing the old-age and disability support program would be a tremendous boon for Wall Street’s financial managers. ICI represents mutual funds and other money managers who control more than $13 trillion in assets.
Simpson’s forceful gesture came after an extended diatribe against Social Security, which he said is a "Ponzi" scheme, "not a retirement program.”
Simpson argued that Social Security was originally intended more as a welfare program.
http://www.huffingtonpost.com/2011/05/06/alan-simpson-aarp-social-security-retirement-program_n_858738.html
Financial and investment interests have long been supportive of Simpson’s broad critique of Social Security, since privatizing the old-age and disability support program would be a tremendous boon for Wall Street’s financial managers. ICI represents mutual funds and other money managers who control more than $13 trillion in assets.
Simpson’s forceful gesture came after an extended diatribe against Social Security, which he said is a "Ponzi" scheme, "not a retirement program.”
Simpson argued that Social Security was originally intended more as a welfare program.
http://www.huffingtonpost.com/2011/05/06/alan-simpson-aarp-social-security-retirement-program_n_858738.html