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3/08/2005

Wall Street and Privatization

In what appears to be an ironic follow up to yesterday's article, Jeff Birnbaum writes in today's Post on Wall Street's apparently tepid support for social security privatization. Waddell & Reed, like Edward Jones before them, claims to have pulled out of the Coalition for the Modernization and Protection of America's Social Security. Of course, as yesterday's article noted, the finances of these groups are secret, and we have no way to determine who is and who isn't buying influence.

If Waddell & Reed tell us they are pulling out, only to stay in, do the American people lose? Perhaps the Labor campaign against Wall Street backers of privatization should get them to ask for refunds from the partisan advocacy groups of which they are erstwhile members.

 

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