Introduction -- Impact of previous crisis on social security -- Strengths and weaknesses of social security prior to the current crisis -- Actual and potential effects of the current crisis on social security -- Conclusions and policies to cope with effects of crisis on social security

This paper surveys the economic wreckage created by Wall Street's decision to manufacture and sell trillions of dollars of financial securities, which we now call toxic. And we call them toxic, not because they were risky, but because they were fraudulent. Rather than address the fundamental...