Originally Posted by Rohirrim
Compared to what Enron did to California (with Bush's blessings) this is chicken feed.
What's happening in Cal is no different than what is happening in America. The pirates bankrupt the nation with their criminal malfeasance and then want to go after pensions and social security to pay off the damages. Just as long as they keep the profit rolling in and the politicians paid off, they don't really care where the money comes from. The time to attack excessive pensions is when you write them, not after decades and the people have done their service under the contract and step up to collect their part of the bargain. How many CEOs and politicians would give a penny of their golden parachutes to make things right? You know the answer to that one. Their pensions and lifetime medical insurance are sacred. Everybody else's? Not so much.
The thieves on Wall Street just split amongst themselves $144 billion in bonuses and you're worried about these measly pensions? There's some Right Wing tunnel vision for ya.
Very few CEOs have lifetime pensions. Very few. Bonuses are paid out of the profits of the companies. Pensions simply add to the losses these public employees are creating.
And it is not chump change. Paying 30 to 40 years of quarter million to half million dollar pensions is big time money when you think for a given position 3 to 5 people can be drawing a pension off that position.
Wall Street is not losing money. The States are.
The Dems have been pimping up the pension plans for public employees for the last decade and a half and now it is coming home to roost and bankrupting the states. Nice work.
And your response? "Yeah but look at Wall Street." Silly and irresponsible just like the people who granted these ridiculous pensions in the first place.