The Enronization of Social Security
AFL-CIO (03/19/02) p.A2; Lazarovici, Laureen

Janice Farmer, a former Enron employee, testified before the U.S. Senate Commerce, Science, and Transportation Committee about her lost retirement funds, and how she was relying on Social Security to pull her through. However, the Bush administration is eagerly attempting to privatize the system, which is expected to reduce benefits, raise the retirement age, or both. ACLI announced that Wall Street--a supporter of privatization--would garner between 12 percent and 14 percent in administrative and other fees, resulting in millions of dollars in revenue.

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