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Sunday, February 13, 2005

Quote of the Day
Posted by Jill | 10:30 PM

Rockville Centre, NY CPA Ed Slott, in Newsday:

I am against them [private accounts as part of Social Security...While everyone wants to think they can invest better than the government, all of these people screaming to keep government out of Social Security and invest on their own will be the first on line to cry to the government to bail them out when they lose their money through their own investing mistakes or fraud. ... Having this much money up for grabs on Wall Street is scary. ... Private accounts seem to have all the makings of a breeding ground for massive fraud, followed by a government bailout that would make the savings and loan bailout look like a mere warm-up....
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