2 ms·
> common third party so you're proposing one unelected entity which basically has full control of all personal assets of the legislature? seems like a pretty
by cat199 6y ago
> common third party
so you're proposing one unelected entity which basically has full control of all personal assets of the legislature?
seems like a pretty big potential for vulnerability
- wpietri 6y agoYou realize that one unelected entity has control over all the retirement assets of 40% of America, right? I think if we can handle the Social Security Administration existing, we can handle somebody running a small fund for less than 600 people.
- s1artibartfast 6y agoYou know that the SSA does not manage any market invested assets, right? When Social security taxes exceed payout (which they haven't since 2009), the income is used to finance deficit spending and the SSA is given a special federal bond.
- wpietri 6y agoSure. But there's an enormous amount of money flowing there, far more than in a tiny investment fund, so it's still a potential vulnerability. The US Treasury and the US Federal Reserve do manage actual assets, and again at enormous scale.