nounionfool
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Ah, excuse me, that is what I said, not defending us. And here you are, claiming that I'm the one with a reading comprehension problem.
Dissolve and disperse central states pension fund now !
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Ah, excuse me, that is what I said, not defending us. And here you are, claiming that I'm the one with a reading comprehension problem.
You are right, should have let the mob continue to run the plan. How loud were you complaining prior to 2006 when the fund was performing well (ROI-wise) under Goldman Sachs and Northern Trust?
During the bad years under Goldman Sachs and Northern Trust the CSPF lost about 6-7% more than other large MEPF. It is easy to judge in hindsight. If Goldman Sachs and Northern Trust would have had managers investing all that money in CD's and collecting very small admin fees, folks would have been bitching about the poor returns.
You can point the fingers every which way, the bottom line is $1 in $3.45 out, that's the problem...and many didn't care/don't care as long as they are getting their $3.45.
And I agree NOT defending us. Hence NO bailout or restitution. Are you this dense?
I would love it if the mob still ran the fund among other things. We would have way less problems with a strong mafia.
You are a moron!!!!
I've been saying that for years. Bring back the mafia.
nounionfool
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Are you serious? Yes, in 2006 they had $20 billion, $27 billion in 2007 and since lost one-third of its assets. Then in just in just 15 months during 2008 and early 2009 losses about $11.1 billion in seed capital. Pension funds are supposed to stick to low and medium risks but that amount of loss suggests some very high risks in that short of time, financial crisis or no financial crisis. I'm no thief but if I was inclined to loot a pension that would be the time to do it. Never let a good crisis go to waste.
It's never, ever a good thing when a government sticks it's nose into business because they have no accountability. Just like that judge a few years back that ruled that a parent's discipline was to strict when the girl wasn't allowed to go on a field trip because she couldn't follow rules. Her dad should of just walked into the judge's chambers with his daughter and said, here raise her and if she ever gets into trouble later on in life, I'm coming after you. Like I said, it's never good when the government overreaches it's authority!
nounionfool
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Dense, yes maybe, if that means I can't read minds because that's what someone needs to be able to do when the have an argument with you. You just have a little trouble saying what you mean, that's all. If you look around, there may be someone that might be able to help you out with that.
I said exactly what I mean, you just cant comprehend.
nounionfool
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Just what part of "not defending us and that's why you say that there will never be a bailout/restitution" don't you understand? You do know that before you can get help, you first have to recognize that you have a problem, don't you?
I'm done with you. You're a complete imbecile.
nounionfool
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It's quite the opposite with the federal mafia, isn't it? But that's Ok in your book, isn't it?
nounionfool
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I'm sorry to hear that, after all, we all can't be as smart as you think you are. You have a good day now and the best of luck to you on all your endeavors.
nounionfool
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Teamster Retirees Win Surprise Victory, Force Government Not To Slash Their Pensions
In a stunning demonstration of the power of grassroots organizing, retired Teamster union members across the Midwest have forced the federal government to back down on plans to slash pensions on thousands of retired workers.
Central States Executive Director Thomas Nyhan acknowledged the power of the constituent-contact lobbying effort in his letter to retirees:
A significant number of Members of Congress were vocal in calling for Treasury to reject our pension rescue plan. It is now time for those and others who suggested that there is a better way to fix this critical problem to deliver on real solutions that will protect the retirement benefits of Central States participants….
In the coming months, we will do everything in our power to support a legislative solution that protects the pension benefits of the more than 400,000 Central States participants and beneficiaries, who should not have to bear the emotional trauma of waiting until the Fund is at the doorstep of insolvency before Congress acts.
http://inthesetimes.com/working/ent...e_victory_force_government_not_to_slash_their
Like I said, Teamsters must keep fighting just to keep what others before them have earned and they will win if the numbers are there. They're relying that members become weak and scared so that they just accept things as inevitable and move on as many already have. And if that isn't bad enough, those that have accepted things as inevitable and are willing to move on just hinder those that do continue to fight to keep what was earned like you also see on this forum. Now that is what a call a shame.
Even that no good Nyhan is now being forced support protecting the pension benefits first instead of lobbying just to have the pensions cut.
In a stunning demonstration of the power of grassroots organizing, retired Teamster union members across the Midwest have forced the federal government to back down on plans to slash pensions on thousands of retired workers.
Central States Executive Director Thomas Nyhan acknowledged the power of the constituent-contact lobbying effort in his letter to retirees:
A significant number of Members of Congress were vocal in calling for Treasury to reject our pension rescue plan. It is now time for those and others who suggested that there is a better way to fix this critical problem to deliver on real solutions that will protect the retirement benefits of Central States participants….
In the coming months, we will do everything in our power to support a legislative solution that protects the pension benefits of the more than 400,000 Central States participants and beneficiaries, who should not have to bear the emotional trauma of waiting until the Fund is at the doorstep of insolvency before Congress acts.
http://inthesetimes.com/working/ent...e_victory_force_government_not_to_slash_their
Like I said, Teamsters must keep fighting just to keep what others before them have earned and they will win if the numbers are there. They're relying that members become weak and scared so that they just accept things as inevitable and move on as many already have. And if that isn't bad enough, those that have accepted things as inevitable and are willing to move on just hinder those that do continue to fight to keep what was earned like you also see on this forum. Now that is what a call a shame.
Even that no good Nyhan is now being forced support protecting the pension benefits first instead of lobbying just to have the pensions cut.
You think you know every ****ing thing, then what is your answer? The way I read the letter from CSPF is they dont have another answer to fix it and have resigned to the fact that the fund WILL go broke. When you spend more than you make you have to spend less or you will run out of money. Nobody wants to see a benefit cut but that is what is needed to keep the fund alive longer. Its a fact that people like you are in denial of. But you will understand when your pension is cut 100% forever.
nounionfool
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You think you know everything, then what is your answer? The way I read the letter from CSPF is they dont have another answer to fix it and have resigned to the fact that the fund WILL go broke. When you spend more than you make you have to spend less or you will run out of money. Nobody wants to see a benefit cut but that is what is needed to keep the fund alive longer. Its a fact that people like you are in denial of. But you will understand when your pension is cut 100% forever.
I thought you said you were done with me, like I said, you never say what you mean. Trust me, reading and comprehending isn't your strongest point because you have trained your mind to see just what you want to see. That's what happens when you become weak at the knees and allow those in authority to scare the living daylight out of you. You have allowed yourself to be coerced into believing that cuts are absolutely necessary and inevitable and that's all you will see and just disregard anything to the contrary. You may want to consider just opting out of the pension issue altogether so you don't keep hindering those that are still fighting for the full pension benefits that you have earned and deserve. The more people they see like you that have succumbed to their fear tactics, the stronger they become.Before you jump on me about trying to tell you what to do, I'm not, it's just a suggestion. It's just that you are no good in the fight, you have become weak and scared when it comes to authority figures and automatically believe what they say as the gospel truth which just makes them stronger and us weaker.
Like they say in advertising, there's only one thing that sells better than sex and that's fear!
And no, I don't know everything and if it does come to be that the pension is cut 100% forever which I truly believe will never happen, at least I will know that I fought to keep it instead of just rolling over and accepting it like you are. That I can live with, how about you?
As for the article that I posted, it was just an incentive to show that sheer numbers of those willing to fight for what they believe in can get the federal government to back down and take action.
Now, are you done with me or not? Like you said, you will be the on trying to argue with an imbecile, not me. So that doesn't say much for you...does it?
My question with all this is do you expect 350 million people to agree to spend 20 Billion so 400,000 can retire? That is what it comes down to if the government comes in and saves the day according to Papa Johns numbers on how short the pension fund is. That is 57 dollars from the whole population of the U.S. Just a question cause the government already baled out the banks. Are they going to bankrupt one they saved to save 400,000 non corrupt teamsters? No one wanted to bale out the banks that I knew. Sorry I can't spell bail. I see both your points. We only have 7500 Abf guys paying full rate and 26000 Yrc guys paying 25% in rite now. Thats 2 billon roughly being paid into the fund in ten years giving they all stay in business.
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Again, you have no answer to how to fix the problem. How do YOU propose to fix it. You have a big mouth, lets see if you have any brains.