CrusaderFrank
Diamond Member
- May 20, 2009
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He ran NJ into the dirt, he was the financial architect of the failed "Not-so-shovel ready" Stimulus, he took over a brokerage firm and in 18 months plunged it into bankruptcy firing 1,000 employees and absconded with $600MM in client funds; in short he has the perfect track record to head up Social Security.
The only real difference between Social Security and MF Global is that Corzine was not allowed to hand an MF Check, that can only be redeemed by MF, to his clients in place of the funds he took.
See, that's how Social Security works: you put in real cash money, the government spends it but then gives you a special security that can only be sold back to the government and only to the government.
In August, Obama finally admitted that there were no real assets backing the "Trust Fund"
"I cannot guarantee that those checks go out on August 3rd if we haven't resolved this issue. Because there may simply not be the money in the coffers to do it" -- Barack "Social Security Really is Bankrupt" Obama, the Downgraded and Not so Shovel Ready President
Note, he didn't say, "Social Security recipients need not worry, we will sell some bonds to pay them." Nope. He said that our Seniors would not get their money unless he was able to borrow -- not sell bonds, borrow.
Do you see how screwed we are?
(OK, he's not really heading up SocSecurity, but play along with me)
The only real difference between Social Security and MF Global is that Corzine was not allowed to hand an MF Check, that can only be redeemed by MF, to his clients in place of the funds he took.
See, that's how Social Security works: you put in real cash money, the government spends it but then gives you a special security that can only be sold back to the government and only to the government.
In August, Obama finally admitted that there were no real assets backing the "Trust Fund"
"I cannot guarantee that those checks go out on August 3rd if we haven't resolved this issue. Because there may simply not be the money in the coffers to do it" -- Barack "Social Security Really is Bankrupt" Obama, the Downgraded and Not so Shovel Ready President
Note, he didn't say, "Social Security recipients need not worry, we will sell some bonds to pay them." Nope. He said that our Seniors would not get their money unless he was able to borrow -- not sell bonds, borrow.
Do you see how screwed we are?
(OK, he's not really heading up SocSecurity, but play along with me)
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