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Social Security Reform: "An Avalanche of Money" for Wall Street

Reported by Melanie - December 9, 2004

Today (December 9, 2004) on Your World w/Neil Cavuto, during one of his regular roundtable discussions, this time on Social Security "privatization," Cavuto turned to guest Jordan Kimmel of Magnet Investment Group and said:

"Jordan Kimmel, if we start seeing that [privatization], that's a lotta money that makes its way to guys like you right?"

Jordan Kimmel responded: "Oh, it's just another, another bushel of money. The money that's been on the sidelines in the bonds. The money that's in Social Security. Again, I think you will see a certain privatization happen. And again, it's an avalanche of money and there's just so much money on the sidelines. That's why the market has been so strong for months now."

COMMENT: There you have it. Bush isn't thinking about you when it comes to "privatization" or "reform" of Social Security. He's thinking about his Wall Street buddies, and they're salivating over "another bushel of money," the "avalanche of money" that will pour into their coffers if the Republicans have their way. (Remember this post. We probably won't be hearing this kind of honesty much longer.)

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