#8 on Jim Cramer’s list of ten business predictions for the coming year (in New York magazine …)
8. The president will ram Social Security âreformâ through Congress by getting brokerage houses to lobby for the change.
George Bush will promise Goldman Sachs, Morgan Stanley, Schwab, Lehman Brothers, and Bear Stearns the contract to privatize Social Security and let them be the administrators of the project. These firms will then get their employees to give millions to politicians who are on the fence. Their stocks will triple in value from the prospect of the new business, theyâll pressure the Republican-led Congress for swift passage in the fall of 2005, and the deal will get done.
Certainly, part of the plan.
