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« ACLU Gambles Lottery on Gay Marriage Defeat | Main | This Makes Three » April 25, 2005Irony at the AARPThe AARP says one reason it opposes Social Security reform is that the personal accounts proposed by the Bush administration "come with a host of risks. The stock market goes down as well as up, and sometimes it stays down for quite awhile. Not every individual or every fund earns a lot of money; many have returns well below the average return." Yet, as blogger Mark Rose notes: The AARP also encourages its members to participate in the AARP Investment Program, where it offers "A wide selection with a family of 38 mutual funds. Choose from many asset classes and risk levels, including money market funds, bond funds, U.S. large cap funds, U.S. small cap funds, and international funds."So... the AARP wants old people to have personal retirement accounts, but only if the AARP gets to manage the money. Posted in Miscellaneous
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Yes, he makes a good point. Wall Street Journal noted the AARP's hypocrisy in an editorial on April 18th. They report that AARP makes "north of $300 million annually" by co-branding financial products. Posted by: Terry at April 25, 2005 11:55 AMPost a comment
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