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Subject:  Re: Now Wall Street Wants Your Pension, Too Date:  8/6/2008  4:45 PM
Author:  fleg9bo Number:  13848 of 20791

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.

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