SIA: No Windfall from Social Security Reform

Friedlander, Josh
December 2004
Investment Dealers' Digest;12/13/2004, Vol. 70 Issue 48, p15
Trade Publication
The article discusses the impact of social security reform on Wall Street. It has been widely assumed that U.S. President George W. Bush's proposed overhaul of social security into private investment accounts would bring a huge windfall to Wall Street, but the securities firms don't think so. Securities Industry Association debunked the notion that Bush's plan amounts to a big government subsidy to the brokerage industry. Another uncertainty is whether the proposal could have some negative impact on retail trading. How the proposal will affect Wall Street versus other financial constituents, such as mutual fund companies, remains up in the air.


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