BigUnionGuy
Got the T-Shirt
The vote count was undisputed in the Upstate NY pension issue.
Central States going broke---
- Thread starter rod
- Start date
The vote count was undisputed in the Upstate NY pension issue.
What'dyabringmetoday???
Banned
Of course it was. So was the 2020 Presidential Election. As long as you say something is true, it is true. You aren't ALWAYS right....like you think you are. I'm sure you are right most of the time though.
BigUnionGuy
Got the T-Shirt
What'dyabringmetoday???
Banned
It worked out where the fat slobs running the fund went out for a big dinner.Really ?
How did that work out ?
Brownslave688
You want a toe? I can get you a toe.
But yet thousands of banks knew better than to make those loans.
Up In Smoke
Well-Known Member
The government sets the standards, the banks did what they were allowed. Where things got bad is when these mortgages were sold to securities, pension funds and endowments as investment vehicles.
Brownslave688
You want a toe? I can get you a toe.
That’s not how running a businesses works. There needs to be consequences for not doing what’s in the best interest of the company. What’s technically allowed doesn’t matter.
Up In Smoke
Well-Known Member
I agree, but what about our lawmakers changing the borrowing standards, loan to value, loan to debt and money down. I had relatives buy a house in 2003 with no money down on a 5 year balloon. The standards were ridiculous.
Brownslave688
You want a toe? I can get you a toe.
That’s on the bank and the borrower to know better.
Why should the banks gets bailed out of the homeowners didn’t get bailed out? It’s the same scenario. They both should have known better.
Up In Smoke
Well-Known Member
Because the banks hold the deed. It was a game of hot potato, who ever held it last got burned. This was government created.
Up In Smoke
Well-Known Member
The country is headed down a very similar path today. The financial deregulation of 2018, the repeal of Dodd-Frank and Consumer Protection Act paired with the fiscal debt, devaluation of the dollar and reduced spreads threaten the financial sector today. Most parts of the market have recovered with the dumping of federal dollars, but the financials have not. We are destine to bail this sector out again before we can move forward.
Brownslave688
You want a toe? I can get you a toe.
Bail them out how though? There’s no ammo left in the box
PT Car Washer
Banned
Weren't members given an opportunity to reduce monthly payouts to extend the life of the Plan?
BigUnionGuy
Got the T-Shirt
When I first joined BrownCafe back in 2006, I used to have a signature line that said;
"You might not like what I say.... but, I always tell the truth."
Nothing has changed.
It's good to know, that the company Trustee's (on the plan) are aficionados of the buffet too.
What'dyabringmetoday???
Banned
Yes- we all know how honest the company folks are...When I first joined BrownCafe back in 2006, I used to have a signature line that said;
"You might not like what I say.... but, I always tell the truth."
Nothing has changed.
It's good to know, that the company Trustee's (on the plan) are aficionados of the buffet too.
What'dyabringmetoday???
Banned
Kudos to you having such an amazing "signature line". You truly are a legend.When I first joined BrownCafe back in 2006, I used to have a signature line that said;
"You might not like what I say.... but, I always tell the truth."
Nothing has changed.
It's good to know, that the company Trustee's (on the plan) are aficionados of the buffet too.
BigUnionGuy
Got the T-Shirt
If you have the ability to solve all your problems...
You don't need a Union.
What'dyabringmetoday???
Banned
Up this way we have to. Union does nothing. I'm anxious to hear your retort since I already know what it is. Keep up the good work Big UPS Man.
What'dyabringmetoday???
Banned
Who said I had problems Big Union Man?
