
Before running Social Security, Frank Bisignano was the head of Fiserv, a financial services company, where he laid off thousands of workers. Fiserv’s stock recently dropped by 40%. The company’s current CEO blamed Bisignano, saying that “many of the assumptions and projections set by prior leaders were too rosy.” Bisignano is now a defendant in several lawsuits brought by Fiserv investors. Bisignano appears to have brought his Fiserv tricks to Social Security. Under his leadership, the Social Security Administration has removed longstanding metrics from its website. Bisignano is touting rosy new metrics, but the truth is that he is cherry picking data. Above: A detail from the mural “The Meaning of Social Security” is seen in the Wilbur J. Cohen Building.