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Experts unsure of impact from privatization of Social Security.

Publication: Westchester County Business Journal
Publication Date: 24-JAN-05 		Format: Online
Delivery: Immediate Online Access
Full Article Title: Experts unsure of impact from privatization of Social Security.(Banking And Finance)

Article Excerpt
If Congress passes some kind of new Social Security partial privatization plan, as President Bush is urging them to do, financial services companies could benefit, but many of those benefits could be more indirect than by simply collecting fees for managing accounts, some in the field say.

"I don't think any of the large banks or small banks or Wall Street firms are going to be in a position to make a lot of money from this--I really don't," said Fernando Garip, senior vice president and chief investment officer for Commerce Bank in Ramsey, N.J. "But I do think the markets will benefit from it. Insofar as they do, that will be a good thing."

Garip and other financial services...

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