Posted on 08/30/2005 5:03:48 AM PDT by georgiadevildog
So how do we fix it? Well, maybe you better take a seat. I do not believe we should go to government-sponsored personal investment accounts. As I stated before, I believe that the original intent was to provide a sort of insurance policy against market fluctuations, and I think that was a good and right intent, so I'd like to keep it that way. Personal investment accounts do not accomplish that end. Given a substantial market failure, such as the one in 1929, even money market accounts (considered to be among the most stable and reliable investment accounts) would suffer huge losses. No, personal accounts don't solve the problem if we're to retain the original intent.
(Excerpt) Read more at eidsonblog.blogspot.com ...
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