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URL:  http://boards.fool.com/maybe-we-should-go-ahead-and-destroy-public-30770594.aspx

Subject:  Re: Proposal to end public pensions Date:  7/11/2013  8:55 AM
Author:  jdp245 Number:  428456 of 461402

Maybe we should go ahead and destroy public pensions and Social Security and put everybody under the thumb of Wall Street.

You are naive to believe that pensions are any less "under the thumb of Wall Street." Who do you think the money in a public pension fund is inveseted with? Where do you think most of the money invested in hedge funds comes from?

The option of socking away cash in an account for liabilities that are 20+ years in the future is not an answer either. That is a terribly inefficient use of capital. And Social Security is not much better. A 100% allocation to government bonds? What a waste.
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