Ron Williams Quotes
For insurance solvency, ongoing plan participation is vital.
This statement was quoted over and over by his Presidential opponent, Lyndon Johnson in the campaign of 1964. Although, a wealthy person could on the average do a little better with a private investment of equivalent money and a disability insurance, those citizens of less wealth could not do so as easily. And few could obtain the disability and survivor benefits that comes along with Social Security. Goldwater wanted to make Social Security Voluntary, and most Americans thought the Goldwater prescription for Social Security would kill the program and did not support him. Conservatives have argued for this idea ever since, including Geirge W. Bush who made it a centerpiece of his administration’s program. It was rejected by the voters, and most of those were proven right when with the 2008 stocks had lost 50% of their value—the people who had retired and depended on their return from investments were mostly in terrible trouble. And of course, even in good times, some people who invest in the stock and bond markets do well and some do poorly. What would society do about those who lost most of their retirement. Let them starve because they invested badly?
The Stock Market went up slightly as a result of his efforts.
It is this principle that makes any kind of economic reform so difficult to implement. People do not want to lose what they have obtained and do not want to risk any change.
4 years after the Great Recession where major banks of America needed government bailouts to prevent failure the Administration and Federal Reserve board wanted to increase the capital requirements to increase the safety of the Banks. Essentially the banks would speculate and gamble with depositors’ money. If their investment paid off, there were large profits and bonuses for the executives. If it did not, they ran out of capital as they had very little of their own at risk. The government bailed them out and the executives got their bonuses anyway. The efforts to make the banks speculate with more of their own money were strongly opposed by the banks and bank executives.
The big priorities will focus on the security and economic side because they really go hand in hand.
This quotation Illustrates a conflation of American national security and economics.
Ronald Allen Williams (born 1949) is an American businessman, entrepreneur and management consultant, and board director on corporate, public sector and non-profit boards. Williams is the best-selling author of Learning to Lead: The Journey to Leading Yourself, Leading Others, and Leading an Organization. He is founder, chairman and CEO of RW2 Enterprises, LLC. He is the former chairman, president and chief executive officer (CEO) of Aetna Inc., a diversified benefits company. Aetna is now part of CVS Health.
