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To: Robert Douglas who wrote (71664)	1/20/1999 2:45:00 PM
From: Jim McMannis	Respond to of 186894

Wow, I was just thinking the same thing. Who picks the stocks, who's the broker. See my post to Chris. Jim

To: Robert Douglas who wrote (71664)	1/20/1999 3:00:00 PM
From: Burt Masnick	Read Replies (1) \| Respond to of 186894

I believe that the detailed proposal will be to invest the money in INDEX funds that mimic the DOW, the S&P 500 and the Russell 2000 and other indices. While one could argue about the percentage of available funds that would go into each index, that is a far cry from the government picking winners and other fears. There may or may not be flaws with Social Security funds invested in markets (by the way a strong Republican theme over the years, recently co-opted by Clinton) but using indices as proxies for mutual fund or stock picks pretty much excludes the argument that the government will pick or favor individual companies or industries.

To: Robert Douglas who wrote (71664)	1/20/1999 10:46:00 PM
From: Andrew Williams	Read Replies (1) \| Respond to of 186894

"Talk about a colossal conflict of interest!" It would have to be a balanced fund. The portfolio managers would probably work for the treasury and report to Rubin. And the funds would not necessarily need to come from tax receipts. They could sell some treasuries and invest the proceeds in ... treasuries. Rubin could hire some of the former Long Term people recently laid off. Just think of the performance our pension fund would have with the leverage they could create. If ever a liquidity crisis arose, the treasury could just repurchase treasuries. Clinton is a genius!