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Author: mendomann Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 19378  
Subject: Now Wall Street Wants Your Pension, Too Date: 8/6/2008 4:16 PM
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This dosen't sound good to me. It raises a lot of troubling questions.
Just another way for Wall Street to make a buck at the expense of retirees.


http://www.businessweek.com/magazine/content/08_33/b40960007...
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Author: fleg9bo Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 13848 of 19378
Subject: Re: Now Wall Street Wants Your Pension, Too Date: 8/6/2008 4:45 PM
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The article says that under the proposal, Wall Street would be taking over troubled pension plans. When company pension plans go bust, retirees end up getting maybe 25% of what they expected from the Pension Benefit Guaranty Corporation (PBGC) at the expense of the taxpayer.

But I can see the dangers in this scheme, as the article points out further on. If this goes forward, I'd like to see some restrictions so that pension money cannot be invested in oddball or speculative stuff like mortgage-backed securities and derivatives.

--fleg

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Author: TMFPMarti Big funky green star, 20000 posts Home Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 13849 of 19378
Subject: Re: Now Wall Street Wants Your Pension, Too Date: 8/6/2008 6:17 PM
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When company pension plans go bust, retirees end up getting maybe 25% of what they expected from the Pension Benefit Guaranty Corporation (PBGC) at the expense of the taxpayer.

A correction, at least for the moment. There are no taxpayer funds involved in PBGC benefits. They're paid from premiums that pension sponsors are required to pay.

Of course, that was the case with the S&L's too, and....

Phil

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Author: Howie52 Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 13850 of 19378
Subject: Re: Now Wall Street Wants Your Pension, Too Date: 8/6/2008 10:41 PM
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"When company pension plans go bust, retirees end up getting maybe 25% of what they expected from the Pension Benefit Guaranty Corporation (PBGC) at the expense of the taxpayer.

A correction, at least for the moment. There are no taxpayer funds involved in PBGC benefits. They're paid from premiums that pension sponsors are required to pay.

Of course, that was the case with the S&L's too, and....

Phil "

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