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Little-known Government Agency Braces For Recession Fallout
Submitted by netzorro on Mon, 02/16/2009 - 21:05
WASHINGTON (AP) — The deepening recession spells trouble for a little-known government corporation that insures the pensions of 44 million workers and retirees. http://www.kfsm.com/news/nationworld/sns-ap-pension-bailout,... » |
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Karl Denninger at
Karl Denninger at http://www.market-ticker.org has recently been writing about how a PBGC takeover of GM / UAW's pension liabilities will affect retiree's if a bankruptcy were to occur. It's not necessarily a pretty picture for those who thought they had a solid pension waiting for them at the end of a long career.
But then again, trusting commies was never much of a winning strategy, I guess...
I guess my
husband can forget about retiring. I knew all those pensions would be to tempting for them to leave alone. They want it all.
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