AARP has the same philosophy as...

by Edward ODaniel Apr 29, 2005 4:35AM PDT

DK and too many other liberals. Namely "we are smarter than they are so we can do it but they shouldn't be allowed to do it."

AARP Has Its Own Private Accounts
Jim Meyers, NewsMax.com
Wednesday, April 27, 2005

While AARP is busy bashing President Bush's plan for personal retirement accounts as unsafe, the organization is raking in millions of dollars from its own private stock and bond accounts.
...
"It seems that as long as AARP gets a cut, investing in the market is fine," states Investor's Business Daily. "But if you do it on your own, you're one step from crushing poverty."

AARP's investments in what it calls the "risky" securities market have brought in a healthy average return of 7.29 percent a year since 2000. Only 8 percent of the organization's portfolio was invested in safe government-backed securities in 2003.

"AARP seems to believe that capitalism is a fine thing as long as they're the only ones practicing it," said Pete Sepp, vice president of communications for the National Taxpayers Union.

"How can an organization so heavily invested in the stock market tell others they can't do it?"

How indeed?

Discussion is locked

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I had a little experience with AARP

by Dragon Apr 29, 2005 11:54AM PDT

I wanted to know one thing: How much, if any, money from AARP fees were going to defeat the Presidents SS plan.

I first got this message in reply:

Thank you for your recent communication. Your concerns are very important to us at AARP. Please be assured that we will prepare a response for you as quickly as possible.

Please do not reply to this message. This email address is not monitored for responses.

You may update your membership information or request and print a membership card online by visiting the Your Membership area of our Web site at http://www.aarp.org/membership.

Additionally, all of your Member Benefits and Services are available by visiting the Member Services and Discounts area of the Web site at
http://www.aarp.org/benefits.

It has been our pleasure to assist you.

AARP Member Service
Contact AARP (http://www.aarp.org/contactaarp)

A few days later:

Dear Valued Member,

Getting feedback from members about their AARP experience is one of the most important parts of my job.

You recently e-mailed AARP for assistance. Would you please participate in a brief survey evaluating this experience?

The questionnarie will take no more than 5 minutes to complete. The results of this survey will be used to identify areas for improvement as we strive to deliver the highest quality service.

To complete the survey, click on the link below, now.

Click here to share your feedback and opinions.

If the link does not work within your e-mail program, please copy and paste the following information into the address line of your web browser:

https://web.carecall.com/wsurvey/wsb.dll/CareCall/ase.htm?ID=9010510175WSB18=ASE01051

Thank you in advance for your feedback.

Sincerely,
Ava J. Baker
Director, Member Service
AARP

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Isn't that typical of how Democrats

by Jerry562 Apr 29, 2005 8:15PM PDT

treat their own kind? Look at the stuff HRC has been putting out. She is a multi-millionaire playing one of the poor people and guiding her flock of non-thinkers. It's amazing that we have so many supporters of these voices. Makes you want to close the borders doesn't it?

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The only good thing about AARP is the hotel discounts that

by Kiddpeat Apr 30, 2005 1:05AM PDT

are sometimes advantageous. AARP seems to be about and for AARP. It's a big marketing machine.

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AARP began as a marketing wing for a major

by gearup Apr 30, 2005 1:43AM PDT

insurance company. I think a Democratic Atty General (Kennedy?) told them to stop or lose their non-profit status. However,some habits are hard to break and the organization while no longer "owned" by an an insurance company still acts like one.

They continue to hard sell insurance policies and like most insurance companies invest in the stock market all the while pretending to have their members interests at heart.

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Car insurance too:)

by Glenda Apr 30, 2005 6:02AM PDT

I pay much less going to The Hartford with my discount from AARP than I paid with another company Everything else they send me goes in file 13

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I'll ignore the TOS violation and reply instead of deleting

by Dave Konkel [Moderator] Apr 30, 2005 1:39AM PDT

No one says private accounts in and of themselves are a bad idea, Ed. But all except those on the the far right (if the shoe fits, go ahead and wear it!) recognize that there needs to be a safety net in case the private accounts go belly up in a long-term stock market debacle. Say, for example, when all the baby boomers become net sellers instead of net buyers, and the dollar drops another 50% against the world's new reserve currency, whether that ends up being the euro or the yuan?

So yes, there should be private accounts for those who can fund them -- but as a supplement to the guaranteed social security benefit, not as a replacement for all or part of it. And not set up by sucking more money out of a program that all recognize as already underfunded. Remember, Britain has already tried Bush's plan, and it's been a disaster for everone except the financial industry!

-- Dave K, Speakeasy Moderator
click here to email semods4@yahoo.com

The opinions expressed above are my own,
and do not necessarily reflect those of CNET!

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(NT) (NT) What TOS violation??? get real!

by Glenda Apr 30, 2005 6:04AM PDT

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TOS Violation? I just paraphrased YOUR OWN WORDS...

by Edward ODaniel Apr 30, 2005 6:34AM PDT

from several of the Social Security threads and I didn't even take much liberty with the paraphrasing.

Now, regarding the "safety net", such has ALWAYS been a part of the privitization plan that Bush put forth and he even spelled it out in far greater detail the other night for those of you who had not been paying attention (if the shoe fits, and it will as it matches your other one, go ahead and wear it!).

As for the rest, once again you illustrate that you are unaware of what FDR had to say on the subject although you have been linked to his speech at least three times now. (Four counting this one http://209.208.234.42/archives/speeches/jan1735.cfm )

Britain has NOT tried Bush's plan Dave. You need to do a bit more reading and a bit less skimming. Do start with the link above.

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