LOL! OKKKKKKK. So some hedge funds went broke. Name a mutual fund that did. That's where the privatized portion would go.
Now, why in the hell would you be worried about the free market that has returned 100 fold over S.S. considering that even YOU know ponzi structures will fail? How many times have you posted "if S.S. is still around in ...?"
Maybe you haven't. But plenty have. You will NEVER remove risk from your retirement. NEVER. But you can have some control if it's in YOUR hands rather than the governments.
Concesions for older folks would be in place anyway. You'll get your's.
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