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Central States Pension Reduction Plan Letter announces Cuts - October 2015
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<blockquote data-quote="crazyeyes" data-source="post: 1866527" data-attributes="member: 456"><p><strong>Bug,</strong></p><p></p><p>Here is my opinion as to ( WHY )</p><p></p><p>plenty of blame, I think the central states pension fund is to blame. They waited too long to act . I also blame the bankers in 2008 for getting greedy and writing bad loans, that people could never pay back. That drove the stock market down. and banks failed and there were a lot of home foreclosures. The pension fund is heavily invested in the stock market, and in 2008 lost a lot of money. The stock market came back but for some unknown reason the pension fund did not. ( more reason's to blame the central states pension fund)</p><p></p><p>The politicians are to blame, Of course the greedy criminal bankers on wall street got bailed out in 2008 by the US Government. Our pensions were supposed to be insured by the US Government ( not a bail out, an insurance policy) Just like your money in the bank is insured by the US Government. </p><p></p><p>But when the politicians saw that the pension funds were in trouble, they took back there promise of insurance, and snuck a earmark into the last spending bill saying that they would no longer insure multi employer pension funds. This was aimed right at the Central States Pension fund.</p><p></p><p>So you see the criminal bankers who wrote bad loans just to make a quick profit, and caused the stock market to go down in 2008 were bailed out.</p><p></p><p>the Hard working people in the pension funds (who are not criminals, they are your everyday working men and women) who's funds were Insured by the US Government ( PBGC, A US Government Agency ) got their Pension Insurance taken from them at the last minute ( just when it was needed) by more criminal sleazy politicians , and some sleazy businessmen who thought it would benefit them.</p><p></p><p>Many would say there was not enough money in the PBGC to save the pensions. I say then put some more money into the PBGC to fund it. All the government has to do is check another pocket, the money is there. The money was there for the criminal bankers, who were not insured, why cant the money be there for the working men and women who (are) were insured.</p><p></p><p></p><p>all this is just my opinion.</p></blockquote><p></p>
[QUOTE="crazyeyes, post: 1866527, member: 456"] [B]Bug,[/B] Here is my opinion as to ( WHY ) plenty of blame, I think the central states pension fund is to blame. They waited too long to act . I also blame the bankers in 2008 for getting greedy and writing bad loans, that people could never pay back. That drove the stock market down. and banks failed and there were a lot of home foreclosures. The pension fund is heavily invested in the stock market, and in 2008 lost a lot of money. The stock market came back but for some unknown reason the pension fund did not. ( more reason's to blame the central states pension fund) The politicians are to blame, Of course the greedy criminal bankers on wall street got bailed out in 2008 by the US Government. Our pensions were supposed to be insured by the US Government ( not a bail out, an insurance policy) Just like your money in the bank is insured by the US Government. But when the politicians saw that the pension funds were in trouble, they took back there promise of insurance, and snuck a earmark into the last spending bill saying that they would no longer insure multi employer pension funds. This was aimed right at the Central States Pension fund. So you see the criminal bankers who wrote bad loans just to make a quick profit, and caused the stock market to go down in 2008 were bailed out. the Hard working people in the pension funds (who are not criminals, they are your everyday working men and women) who's funds were Insured by the US Government ( PBGC, A US Government Agency ) got their Pension Insurance taken from them at the last minute ( just when it was needed) by more criminal sleazy politicians , and some sleazy businessmen who thought it would benefit them. Many would say there was not enough money in the PBGC to save the pensions. I say then put some more money into the PBGC to fund it. All the government has to do is check another pocket, the money is there. The money was there for the criminal bankers, who were not insured, why cant the money be there for the working men and women who (are) were insured. all this is just my opinion. [/QUOTE]
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