The Chilean retirement plan-model coming up short

I'm never too sure whether I should laugh or cry when Bush references a distant, foreign government plan as his inspiration for his latest plan for America. The fact that our resident idiot have hardly ever traveled in his life prior to his coronation makes me wonder how much he really knows about those plans. Referencing a "success" in Uganda was cleaver, I suppose, because besides Idi Amin, what do most Americans really know about Uganda. Are people really aware of the corruption, torture, lies, etc. that are the cornerstone of the present "ABC" government? Probably not.

So now we have Bush talking up the new and exciting and profitable private retirement savings accounts that are based on the "success" in Chile. Now I'm not convinced that everything our government bureaucrats do is perfect, but then again connecting my own retirement money to Wall Street, where they completely screwed American families with over-hyping companies and leaving them with the bill, does not sit well with me either. Wall Street just does not do anything because they're nice guys, because they're not.

Check out this story on the Chilean "success" and how the poor saps that trusted the private plan are coming up short...very short, compared to those who stuck with the old system. Big surprise, but a lot of the private investment money seems to go towards fees for maintaining the accounts. Caveat emptor.