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Thread: pensions down the tubes

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    Default pensions down the tubes

    like enron, the workers' pensions at the failed institutions are disappearing while the people at the top get their golden parachutes
    I pledge allegiance to the constitution of the United States of America as amended by the legislative and executive branches and interpreted by the Supreme Court

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    Quote Originally Posted by DonQuixote View Post
    like enron, the workers' pensions at the failed institutions are disappearing while the people at the top get their golden parachutes
    It is the American way. We all exist but to serve the big corporations.
    Bush doubled the debt from 5 trillion to 10 trillion.
    Proving tax cuts work!

    Bush asked for and signed for the TARP money.
    The Republican senate leader backed Bush on this.

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    They should have learned from the Enron/WorldCom disaster. There should be a law that requires pension funds be kept COMPLETELY separate from a companies finances, and also severely limit what percentage of the fund can be invested in the company's own stocks. Then if a company goes down, the pensions transfer with the employees to wherever they find new employment.

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    Quote Originally Posted by Good Luck View Post
    They should have learned from the Enron/WorldCom disaster. There should be a law that requires pension funds be kept COMPLETELY separate from a companies finances, and also severely limit what percentage of the fund can be invested in the company's own stocks. Then if a company goes down, the pensions transfer with the employees to wherever they find new employment.
    not to mention the fraud perpetrated by the banks

    rampant capitalism at work here - where will it strike next
    I pledge allegiance to the constitution of the United States of America as amended by the legislative and executive branches and interpreted by the Supreme Court

    We the People of the United States, in Order to form a more perfect Union, establish Justice, insure domestic Tranquility, provide for the common defense, promote the general Welfare, and secure the Blessings of Liberty to ourselves and our Posterity, do ordain and establish this Constitution for the United States of America

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