Next stop for private equity—your Social Security?

  

I’m certainly not paranoid and I’m no fan of conspiracy theories. But scheerpost.com makes a compelling case for the fear that the Trump Administration is opening the door to a private equity takeover of Social Security. They’ve certainly recruited the team to do it.

“Again, per Bloomberg, private equity has just gained a “beachhead” in the SSA. An infiltrating “team of veterans” — for now, limited to Antonio Gracias, founder of Valor Equity Partners; Scott Coulter, formerly of Lone Pine Capital; and Michael Russo, formerly of Shift4 — will execute their mission. Russo has stepped right up into the role of agency chief information officer. According to Altman, Russo is operating on the direct orders of Bisignano. Apart from that, it’s not yet clear what the trio’s full roles will entail — but it’s certainly worth noting that Gracias was an early investor and close collaborator in Tesla and SpaceX, as well as a private equity resource whom Musk has called upon: another “fixer.”

 

“Altman, citing knowledge of the matter, remarked that Bisignano may be jumping the gun more than a little when it comes to giving orders in advance of his prospective appointment. She said Dudek has admitted as much in a private meeting: He takes all his marching orders from the not-yet-commissioner.

 

“As Altman said, “They’re trying to make it look like [Bisignano’s] got clean hands, but he’s conferring with the acting commissioner [Dudek] five times a day.… [Bisignano’s] the guy calling the shots.” A commendable start to a new job: sent in a goon squad to ransack his own agency, then hid from responsibility — a “fixer” indeed.”

Read the rest at the link. Bookmark it.

https://scheerpost.com/2025/03/18/as-doge-mauls-social-security-profit-hungry-private-equity-is-swooping-in/?fbclid=IwY2xjawJGYLFleHRuA2FlbQIxMQABHbBZw7UvQWZEICv9BfXT0yc2RubHNUPFYyRQYEdjbJcGnqRWLSrOlUF_GQ_aem_yiFcRQ25ovrmpJJli9B8hQ

 

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