Can’t trust feds to invest our money

Ken Anderson, Las Vegas

Sunday, Feb. 13, 2011 | 2:04 a.m.

I have been reading opinions from readers regarding Social Security’s problems. I would like to play devil’s advocate and give my opinion as to why Social Security should never be a money fund where the federal government seeks profit through investments in the stock market.

My biggest objection is the track record Washington has had in selecting people to watch over our money. This recession can be traced to federal appointees who were formerly connected to Wall Street firms that committed acts resulting in profits for themselves and losses for the American people. If anyone who reads this newspaper did what the guilty Wall Streeters did, we would be reading this newspaper in a prison cell. The fact that the same people who contributed to our recession are still free tells us that there is an unhealthy relationship between Washington and Wall Street.

Can you imagine our federal government making choices with our money on where to invest? If they bought shares of stock like they award contracts to businesses involved in the Middle East wars, the term “cronyism” will have been objectified explicitly.

Lastly, Social Security benefits were never intended to be retirees’ sole income. People are responsible for examining their future needs and planning accordingly. Depending fully on the government is not the way to achieve the American dream.