Reply #21: It's not just that he's taken on powerful interests. [View All]

[PeaceProgProsp]

It's that those powerful interests are right about the issue.

It's ridiculous to privatize the public pensions. Their overhead costs are something like a 20th of the overhead costs for 401(k)s, and the concentrated management and voting power ensures that people who have the time and know what they're doing are managing the funds and voting shares in a way that encourages coroporations to behave, which is not the case when 401(k) holders vote shares -- which is why 401(k) holders got screwed by Enron and world com et al, whereas I bet you the California pensions didn't get screwed by those companies.