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This is because a government-controlled pension fund would not face the competitive pressure and legal obligation to make investments solely for the economic benefit of future retirees. As one expert has explained:
Giving the federal government that power and control would create large risks for the economy and for the retirement security of today??s workers. The Congressional Budget Office, for instance, has warned:
For example, evidence at the state and local levels with public employee pension funds??as well as evidence from similar arrangements in other nations??demonstrates that politicians and their appointees often are tempted to steer the government-controlled pot of money toward special interests, political allies, or corporate contributors...
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Common topics in this essay:
- Alan Greenspan
- Alan Greenspan
- Alan Greenspan
- Alan Greenspan
- Alan Greenspan
- The Federal Reserve And Its Role In The Global Economy
- Alan Greenspan, Chairman Of The Federal Reserve Board:
- Capital Markets And Investment Banking
- Capital Markets and the Investment Banking Process
- Federal Reserve's Role in the Economy
- The Federal Reserve Board
- Alan Greenspan, Chairman Of The Federal Reserve Board:
- Chirman of the Board - Alan Greenspan
- government-controlled investment
- The fed under alan greenspan
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