In article ,
says...

On Sun, 15 May 2011 23:36:49 -0400, wf3h wrote:

http://www.opensecrets.org/bigpictur...Rep&Cycle=2008

Wow, great list. Shows the union corruption.

amount of money unions took out of the US economy in the last 3 years:

zero

amount wall street did?

10 trillion.

Most of that money never existed in the first place. It was created
out of thin air by Wall Street to fund the housing market and the
construction unions got plenty of that money. The problem wasn't where
the money went, it was what happened when the people who bought that
paper and actually thought it was real, tried to cash it in.


The Wall Street money was real for plenty.
Speculative investments are just that. No guarantees.
But many did well and continue to do so.
You'll note that the DOW is near previous highs.
And real estate has always been speculative.
Plenty flipped houses and made out like bandits.
Others, many who simply wanted a home to live in, bought a tulip future.

It is a similar situation with the SS bonds.

Government backed securities are guaranteed. It is the soundest
investment, because the government can levy taxes and print money.
And they certainly care about their reputation, so they won't default.
Besides, for public debt, they have the voters to contend with.
Here's a readable pdf of government debt.
http://www.treasurydirect.gov/govt/r...opdm042011.pdf

BTW, just using common sense, if SS benefits are reduced, what money
will replace it?
For those who who have no other funds, they will go on some form of
public aid, food stamps, etc, maybe populate gullies and culverts with
homeless old people.
Either taxes will be raised or social unrest will ensue.
But what of all those who own Wall Street securities or financial
institute CD's?
They'll cash out. No other choice.
It would be the biggest run on stocks and banks since the depression,
but drawn out for years and years.
So even Wall Street doesn't want SS cut, certainly not for those who are
more likely to cash in securities to replace the lost income.
They will mitigate for higher payroll and income taxes, but try to
protect capital gains and SS benefits.
And Wall Street is well represented in the government.
You're barking up the wrong tree.