In an apparent attempt re-enforce this image, Lloyd Blankenfeind forwarded this wholly absurd claim:
You can look at history of these things, and Social Security wasn’t devised to be a system that supported you for a 30-year retirement after a 25-year career.Leaving aside the more or less unchanged nature of post retirement life expectancy, who on earth works for 25 years? I mean the average teenager has some kind of job by the time they are 16 and nearly everyone retires between the ages of 62 and 65. If I add 25 to 16 I get 41. Some small time crook who has gamed Wall Street or reaped the rewards of helping other game Wall Street might retire at 41 but you know people become crooks because they are too lazy for honest work.
As near as I can figure the vast majority of Americans work for 49 years or so in a variety of jobs after which they retire and then soon die.
Blankfein is supposed to be some kind of a genius at maths and investment and yet it would seem he can neither add nor does he understand the statistics of life expectancy. No wonder he and his fellow managerial geniuses ruined the economy; they are, in fact, dumb as dirt and twice as filthy.