Per the WaPo:
A campaign fund controlled by Senate Majority Leader Bill Frist (R-Tenn.) has lost almost $460,000 in stock market investments since 2000 and now does not have enough to cover a sizable bank loan, according to federal election records and the manager of the Frist account.Regular readers know that I am unalterably opposed to SS privatization for just this reason. The massive cost of privatization is a secondary reason.
The heaviest losses, totaling more than $500,000, occurred in a stock index fund in 2001 and 2002, years when the securities markets suffered a major downturn. But the Frist campaign account lost an additional $32,050 in July and August, a setback that was only partially offset by a gain of $11,472 in September, according to Linus Castignani, treasurer of "Frist 2000," which was created to finance the senator's successful campaign for a second six-year term in 2000.
Read the rest of the article, then call Frist's DC office and ask them if this is what we can expect to experience with our private SS accounts.
(via Josh Marshall)