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Bisignano is currently the CEO of Fiserv Inc., a leading payment processing service; he has also held positions at Shearson Lehman Brothers and Citigroup, and was formerly the co-COO of JP Morgan Chase. In 2017, he was the second-most highly compensated CEO in the nation, earning over $100 million that year. Among Social Security experts, advocates and recipients alike, this résumé has not inspired confidence in Bisignano's prospective tenure.
Republicans, of course, have long had designs on Social Security, and have sought ways to undermine the program and cut benefits at every turn. The next Trump presidency has presented an opportunity to press the matter and achieve cuts long considered politically impossible, thanks to the extreme unpopularity of such a proposal. There is no indication that Bisignano will refuse to aid Trump and the right as they test the waters and explore various means of sabotaging one of the nation's most successful, longstanding and crucially important social programs.
The "Fixer"
In response to the news of Bisignano's appointment, Richard Fiesta, executive director of the Alliance for Retired Americans, released a statement with pointed criticisms of the nominee: "Nothing in Mr. Bisignano's career suggests that he understands the unique needs of older and disabled Americans. His record in the private sector doesn't instill confidence that he will protect beneficiaries from plans to dismantle and replace the SSA workforce, [or that he might act as] a cheerleader for risky schemes like allowing investment firms and crypto corporations to gamble with the trust funds and benefits that Americans paid for and earned[.]"
Fiesta is not alone in his disapproval of the pick. Truthout reached out to Nancy Altman, the president of Social Security Works, the leading advocacy organization for the administration. Altman, who is also the chair of the Strengthen Social Security Coalition, is a former tax lawyer and pensions expert, congressional adviser and faculty member at Harvard's Kennedy School of Government.