Yellow | Beware the taxpayer bailout of underfunded Teamsters pension plans
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Old School Guy
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Who is the republican in this as well ?I noticed Howe street just so happen to leave out the republicans name. If the tax payers can contribute billions to the bonus of the wall street greedsters with out any problem then why not to the pensioners that actualy did work for their money?
Freefromdat
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I don’t expect the public to very accepting of the idea, tax dollars paying to keep a pension afloat. It’s a dog eat dog world out there, the retired and laid off cant afford $14,000 a year health insurance but they will scream bloody murder against healthcare reform, people with 401k’s in the tank or losing their pensions should expect the same. Some people you just cant reach, we are all in this boat together but you cant get anything done to keep it from sinking.
wild deuce
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of course
Why should anyone worry about bailing out Main Street? Wall Street is where it is at. Without Wall Street this country would be down the drain. These Wall Street employees with their shirt and tie, baby face, manicured nails, wet behind the ears, who need their mommys and daddys, and never earned a dollar by not getting it off the back of someone else. What would we do without them? Who needs Main Street? They do. They are just too dumb to know it. :Flame-On:
Why should anyone worry about bailing out Main Street? Wall Street is where it is at. Without Wall Street this country would be down the drain. These Wall Street employees with their shirt and tie, baby face, manicured nails, wet behind the ears, who need their mommys and daddys, and never earned a dollar by not getting it off the back of someone else. What would we do without them? Who needs Main Street? They do. They are just too dumb to know it. :Flame-On:
There never should have been a wall street bailout and there definitely shouldn`t be a private pension fund bailout. Why as a taxpayer should I have to contribute to a teamster's pension fund unless they include me in it. So far I`m not hearing much in the way of concessions from either the participants, pensioners or the union management teams.
Each time we bailout a privately held bank, pension fund or manufacturer we get one step closer to socialism.
Let the strong survive and the waste just die off. It will be painful at first but make us stronger in the end.
Each time we bailout a privately held bank, pension fund or manufacturer we get one step closer to socialism.
Let the strong survive and the waste just die off. It will be painful at first but make us stronger in the end.
If YRC controlled 50% or so of the freight flow in the country, I think the Gubment would help them, but since there is an over capacity and not an under capacity problem, YRC is not likely to be considered one of them "Too Big To Fail" COMPANIES
As usual they try to make this a "Union" issue. But in reality the bulk of the proposed PB&J Act appears to address the non union Single Employer Pension Funds (SEPF).
"Mish" neglected to include the fact that the Teamsters CSPF is only 1 of many Multi Employer Pension Funds (MEPF) that might benefit from the PB&J Act. He neglected to include the fact that all pension funds pay an insurance premium to the PGBC for every member participating in every fund. And he neglected to include the fact that it was the Federal Government's ERISA that allows the companies to underfund it's pension plans.
The Feds created this underfunding mess & it's their responsibility to make it right.
Using the Teamsters may make for a catchy headline. But todays pension problems & the PB&J Act is not a union issue. There are many more non union SEPFs in trouble than there are union MEPFs.
I don't believe that YRCW ever actually applied for TARP money. And YRCW's financial problems were not caused by the Teamsters Union or it's pension funds.
I never heard of this guy "Mish" before but it's not hard to figure out where he is coming from.
billyzollars
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It always amazes me how the US government can spend trillions of taxpayer dollars in aid and military action in 3rd world countries but when they talk about spending money on programs to help the people here people call it socialism.
carolinajohn
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I agree that the spending on foreign aid is excessive,but the reason many people object to many social programs is,it gives the government more and more control over their lives.Too many people today want everything they can get from the government for free and along with it Washington asumes more control over our everyday lives.Remember,whenever the gov`t gives to someone,they first have to take it from someone else.It`s always the working man they take from.
When Goberment 'helps', it's actually a hindrance; Freddy, Fanny, DOT, EPA, IRS, DNR, etc, etc...................................................................
PADUCAH #1
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tanks 2631 for pointing out how some insignificant blogger can post and search engines pick it up and all the 'scaredy cats' poop in their shorts.
tragic thing is the internet is so new to so many people they don't know what to take to the bank and what to dismiss.
a lot of people have made a lot of money shorting YELLOW for a lot of years.
just got to know when to go long.
there are a lot of people out there that will profit from our demise.
if we go out, i wonder who the prognosticators will pick to make into the buttboy next.
there's a lot of companies out there whose operations aren't nearly as tight as ours and they don't have our quality of workforce or management.
if some of you people don't like the above paragraph, QUIT and see if you can get another job with your current qualifications.
tragic thing is the internet is so new to so many people they don't know what to take to the bank and what to dismiss.
a lot of people have made a lot of money shorting YELLOW for a lot of years.
just got to know when to go long.
there are a lot of people out there that will profit from our demise.
if we go out, i wonder who the prognosticators will pick to make into the buttboy next.
there's a lot of companies out there whose operations aren't nearly as tight as ours and they don't have our quality of workforce or management.
if some of you people don't like the above paragraph, QUIT and see if you can get another job with your current qualifications.
wild deuce
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yeh I noticed that
I also noticed the ones who cry about socialism the most are the ones drawing the social security checks and are on medicare. I can't figure it out. Oh well.
wild deuce
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you are right
You are very very right. And, since no one is asking anyone to bail out us wee little Teamsters, don't worry about it and go have a Happy New Year!
PADUCAH #1
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the overwhelming majority of anti-socialist posters have a socialist public school education.
so i guess the socialist public schools never made them define the word in english class.
me i'm a proud american bolshevick and if you don't like my politics, just remember the first amendment.
so i guess the socialist public schools never made them define the word in english class.
me i'm a proud american bolshevick and if you don't like my politics, just remember the first amendment.
I'm an anti -Socialist....got my education in public school before the Hippies invaded it with their Socialist agenda.
The Constitution calls for the Government to supply education, infrastructure a fair judicial system and defense. I don't like Socialism or Communism and won't be forced to pretend to either. I'd rather die by the sword then live in tyranny which is where Socialism leads. When I took my oath, I pledged to defend the Constitution of the United States Of America, and defend her I will.
electraglideatl
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Amen,,,,,,,,,,,I knew there was something I liked about you..........:TR10driving03:
wild deuce
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I like her too
I like her too. We are just on different sides of the fence (no pun intended) at this particular point in time.
I like her too. We are just on different sides of the fence (no pun intended) at this particular point in time.
Snicker, snicker.......
