Debbie Wasserman Schultz: “That is why we spend an hour on this every week, because there is plenty of information to disseminate. I sit on the…”

“That is why we spend an hour on this every week, because there is plenty of information to disseminate. I sit on the Committee on Financial Services, and I have an opportunity to interact with people on the New York Stock Exchange and Chairman Greenspan, who testified before our committee, and representatives of the Mercantile Exchange and the Board of Trade and all of the exchanges. One of the things that I got out of those meetings that was clear and that has been written about in the last few days is, let us remember what the foundation of this whole privatization is built on. It is built on the stock market. It is built on stocks and bonds. Now, last week, we had one of the most significant drops in the market in over 2 years. The Dow Jones Industrial Average has fallen more than 9 percent in the last 6 weeks, including a drop of 115 points, or 1.1 percent, on Wednesday. Now, I do not know if most Americans are going to want to throw their retirement security to the whims of the stock market. There are two words in the name of this program: social and security. This proposal removes and decimates the concept of ``security'' in Social Security. It would be social insecurity, because there would be no ability to ensure that future retirees would have that investment there for them when they retired, because we have fluctuations in the market.”