Workers protest Charles Schwab role in pushing Social Security privatization

Workers in dozens of cities around the nation demonstrated in front of the offices of Wall Street brokerage Charles Schwab and similar firms to protest the privatization of Social Security. Charles Schwab is part of a business coalition spending millions of dollars to push for privatization of social security because those firms stand to make billions if privatization happens. Sue Stawicki is a union worker who doesn¹t believe for a minute that George W. Bush is really trying to save social security by privatizing it.

[Sue Stawicki]: "No, he's out to give it off to Wall Street and stuff and to investors. It ain't gonna help us. Look at Enron and their savings. We've had depressions, we had stock market crashes. I don't wanna put my money into something there's no insurance."

David Newby is President of the Wisconsin AFL-CIO.

[David Newby] : "Charles Schwab, the brokerage firm, is a major supporter of two coalitions that are backing President Bush's plan to privatize Social Security. What we're tryin' to do is get Charles Schwab to get out of those coalitions, to stay out of this issue, because they have a chance of making billions and billions of dollars if this plan goes through - which we're going to make sure it doesn't."

Daryl Lowe (Lau) is an AFSCME member who came to the privatization protests at the Madison, Wisconsin Charles Schwab office.

[Daryl Lowe]: "We're not gonna support privatization of our Social Security. Privatization in my opinion just, it's just the first step to killin' it. That's what they want to do. And that's not what we're gonna do. We can fix it. This country can fix it. We're not gonna privatize it and we're not gonna lose it."

Ted Kraig with SEIU Wisconsin 1199 says those pushing social security privatization are pushing a big lieŠ

[Ted Kraig]: "They're really generating a phony sense of crisis. And they're doing it for purposes that have nothing to do with saving Social Security. Social Security does not face an immediate crisis. The so-called solution they're proposing is not a solution that in any way is gonna improve the solvency of Social Security. It appears to be for the profits of big special interests."