I keep hearing from TPM readers who’ve got their noses bent out of shape because it turns out that while their brokers are helping them invest their private savings on the one hand they’re trying to pull the plug on Social Security with the other.
We’ve also heard from folks within the industry who don’t like what they’re seeing, especially from the real pied pipers of private accounts like Charles Schwab and Edward Jones. Back a few years ago Bill Shipman at State Street Global Advisors was one of the biggest pied pipers. But he’s now moved on to other things. So we’re not clear on what the situation is there now.
In any case, we’d really like to know more. And since a lot of you seem to know more already, why not let us in on the story?
Which companies are, shall we say, heavily invested in phasing out Social Security? We also hear tell about various pied pipers getting in touch with HR departments to set up workshops about how Social Security is like Wile E. Coyote already out three feet over the cliff. Seen anything like that? Let us know. We even hear that now President Bush is again putting the touch on folks in the business to ante up more money to help him get phase-out back on track. Know more? Let us know.
