Soft privatization

Jordan Hayes jmhayes at
Thu Jul 30 18:56:09 PDT 1998

Seth Ackerman wrote:

> I can accept that there might be undesirable consequences
> from pouring billions into the stock market, and that ...

what i can't understand is why people think there's some pile of money out there that's presently _not_ being invested somewhere. i mean, they call it a 'trust fund' but it isn't really in any sense an actual fund, right? fica payments go into the treasury and the treasury makes payments to current recipients.

what trust fund?


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