This begs the question. WHY? What does he have to gain personally?

How can we fight this?

Black Rock financial might be the manager of post-Social Security investments for seniors if Social Security were privatized. Think about the management fees on $3 trillion plus of assets.

Facebook, Tweet, and email this diary to all your friends for starters.

So Satan is not just a mythical character as thought. He is in the form of an old, white man willing to spend his fortune denying survival and dignity to others.

Well I think it’s more: willing to spend a fortune, in order to make even more of a fortune… for HIMSELF.

Clearly, half a Billion is Chump Change. Peterson wants MOAR!!!!

The fact that 99%ers will suffer happens to be iceing on the cake, so to speak.

Well put.

How much did Obama get for the cat food commission?

Peterson has effectively created an entire industry around hyping the deficit. Plenty of money for countless consultants, think tanks, aids, speaking engagements, experts, and ad campaigns. A whole army of people to act as if cutting Social Security right now is somehow the most important thing in the world, despite all the evidence to the contrary.

This is what one of our fabled “job creators” does: creates jobs for the lucky few in order to massively RIP OFF the 99%.

Enough to live like a King for the rest of his grubby greedy life. Remember how the Clintons spent over a $1mill on Chelsea’s wedding to a Hedge Funder? Well waitaya see what the Obama’s spend on Sasha & Malia’s weddings.

His wiki suggests he might actually have dedicated $1.5 billion to fiscal issues, one billion bucks in 2008 to endow a foundation named after him whose mission is to raise “public awareness about U.S. fiscal-sustainability issues related to federal deficits, entitlement programs, and tax policies.[1]”

http://en.wikipedia.org/wiki/Peter_George_Peterson

And then another $458 million in 2011 “to cast Social Security, Medicare, Medicaid and various safety net programs that aid the poor as in a state of crisis and in desperate need of dramatic cuts.[14]” id.

Interesting tidbits from his wiki.

In February 1994, President Bill Clinton named Peterson as a member of the Bi-Partisan Commission on Entitlement and Tax Reform co-chaired by Senators Bob Kerrey and John Danforth. He also serves as Co-Chair of the Conference Board Commission on Public Trust and Private Enterprises (Co-Chaired by John Snow).

He succeeded David Rockefeller as Chairman of the Council on Foreign Relations in 1985 and served until his retirement in 2007. He currently serves as Trustee of the Rockefeller family’s Japan Society and of the Museum of Modern Art, and was previously on the board of Rockefeller Center Properties, Inc..

He is founding Chairman of the Peterson Institute for International Economics (formerly the “Institute for International Economics”, renamed in his honor in 2006), and a Trustee of the Committee for Economic Development. He was also Chairman of the Federal Reserve Bank of New York between 2000 and 2004.

In 2008, he founded the Peter G. Peterson Foundation (PGPF), an organization devoted to spreading public awareness on fiscal sustainability issues related to the national debt, federal deficits, entitlement programs, and tax policies. PGPF distributed the 2008 documentary film I.O.U.S.A., and did outreach to the 2008 presidential candidates.

It’s good to be the multi-billionaire.

I guess.

When people are convinced that the best philosophy of a business is to impose the old saw, ” the beatings will continue until the morale improves ” and apply it to gov’t; this is what you get. Mr. Peterson is an old school zealot who thinks, apparently, that if you want rewards for your life long sacrifices, die and go to heaven. Don’t expect much else from your gov’t. He offers no incentives for hard work to the many. He imposes only more tasks, penalties and drudgery if you don’t buy into his notions. By throwing his weight, and money around, he hopes cutting large holes in the social safety net will prove his point.

His payday’s ahead, look to poor bill clitman to see how that works out even after an embarrassing impeachment show trial.

Also a founder of the Blackstone Group. Democracy Now! Had a good segment about him and Fix The Debt

Hope my link works, I’ve had trouble lately.

UBL could only wish that he could do as much damage to this country as this terrorist and his minions.

In the end, a bipartisan majority — 11 of the 18 members — voted for the recommendations, just shy of the 14 needed to compel congressional action.

Yet another example of skewing the math. 20% short is not ‘just shy’.

Thank you. (The link worked fine for me.)

Leaving aside that 14 members imposing their legislative will upon both houses of Congress is not exactly the Constitutional description of how legislation gets enacted.

Then again, no one in government seems to have concerned himself or herself about any provision of the Constitution in quite some time.

Man, I hate these rich maggot mother-fuckers. It’s not the wealth per se, it’s that they think anyone not in their class is a parasite and should be punished for their being disadvantaged. Further, they believe you and I should pay to subsidize their life-style.

There actually was a post on Naked Capitalism on the Fix the Debt group. Many of these guys make billions in DEFENSE contracts. It isn’t what the stand to gain, it’s what they stand to lose. They want to continue extracting billions in dollars from government and if granny stands in the way then out on the ice flow with her. She should have been a savvy business person rather than raising children and laboring like the commoners.

I read Peter Peterson’s 2004 book, Running on Empty, which detailed his proposals to “fix” Social Security. What I found particularly offensive was his argument that members of the Baby Boom generation (full disclosure; I’m 61) helped create the problem by not having enough children.

Uh, no. The two biggest contributors to the national debt were (a) the Bush tax cuts and (b) the Iraq and Afghanistan wars. Had either not happened, there would have been plenty of money to top up the Social Security trust funds.

Peter G. Peterson, of the Peter G. Peterson Foundation to privatize Social Security so he can skim the cream off the top, is 87 years old. He once stated that Social Security was costing him a lot of money in fees since there was no way for a Hedger like him to access the fund and “manage” it.

At his age, his hatred of Social Security has developed into a monomania. He will not be the world’s first trillionaire.

A sociopath with a monomania. Bring out the nets.

Great read Mr. Walker, thanks, that’s three doozies from you today.

To all who comment above what a treasure trove of links, wiki info and such to further illuminate how far back this asshole and his ilk go (Clinton Admin) and what depths they all are capable of in screwing FDR and LBJ societal gains.

Great stuff Pups, thanks to all.