Mandy Rice-Davies [was] a former model and showgirl known for her role in the Profumo affair.
When informed by the prosecuting attorney that Lord
Astor disputed her version of events and denied having an affair she
responded:
"Well, he would, wouldn't he?"
From Pitchbook, March 23:
Larry Fink says Social Security dollars should be invested in assets that generate wealth rather than merely ensuring stability.
BlackRock chief executive Larry Fink has called for Social Security funds to be invested in a broader range of asset classes to turn the program into an engine of wealth generation, a move that would benefit his firm.
In an investor letter released on Monday, Fink said that the current Social Security system, which channels funds primarily into US Treasury bonds, serves as a safety net rather than giving citizens a stake in the country’s future growth.
“In effect, workers lend money to the government and receive defined benefits in return,” he said. “The structure, designed as a social insurance program, emphasizes stability and predictability. What it doesn’t do is let people grow their benefits along with the broader economy.”
To address barriers to everyday Americans investing, Fink proposed measures such as emergency savings accounts and early wealth-building programs—such as child investment accounts seeded with government or private funding—to help more individuals accumulate wealth over time. He specifically named Trump Accounts, a new type of investment account launching this year that allows parents to save for their kids’ retirement, as a form of the innovations he’d like to see.
As nations shift toward self-reliance—increasingly investing in energy, defense and technology—Fink stressed that expanding individual participation in capital markets is critical to supporting that pivot.
He argued that the current Social Security system emphasizes stability rather than enabling Americans to build long-term wealth through sharing the country’s future growth. He questioned whether the system could be more like a long-term pension plan, allowing a portion of funds to be invested in diversified assets.
Meanwhile, Fink warns that AI could accelerate wealth disparities, as gains are likely to concentrate among companies that have the resources and infrastructure to deploy it at scale. Against this backdrop, building wealth will also require owning a stake in AI-powered growth....
....MUCH MORE
Today's introduction and much more on Mandy (backlinks, vignettes) can be found at January 2024's:
Mandy Rice-Davies Moment Ahead: "Biden Adviser Sees Limited Inflation Impact From Red Sea Attacks"
