Why?
Related: Bush Bankrupted Pension Insurance Fund
Corporate Pension Funds Next in Line for Bailout Loot
"Labor chief wants pension insurer on less risky path; Calls for suspension of investment strategy" by Michael Kranish, Globe Staff | May 29, 2009
WASHINGTON - Boston University professor Zvi Bodie, a former agency consultant, compared it to a company that uses the premiums collected for hurricane insurance to invest in beachfront property. Bodie predicted that a taxpayer bailout is inevitable.
"It is back to the drawing board as far as PBGC is concerned," Bodie said. "They need to be bailed out of the hole...."
And here is the kick to the groin, American taxpayers:
While the insurance fund is not backed by the federal government - unlike federal bank deposit insurance - it is widely believed that taxpayers would be liable if it runs out of money.
Why?
Related: Insuring Himself Employment and a Pension
I think they should go get the money from him and them!
