What the hell is this all about? Why do I have to pay for someone else’s pension?
private company pension funds have historically been overfunded. they invest in (among other things) stocks. stocks have fallen more than expected. private company pension funds can therefore become underfunded. when this happens, pensions payments can be reduced. retirees are squeezed.
i am not certain why some pension funds deserve government bailouts and others do not.
i think the incentive of pension funds investing in stocks derives from keynesian economics (but i am not an economist).
Because stolen elections have consequences.
So they’ll vote for Democrats.
Because they invested with Bernie Madoff and lost it all.
When I see things like this, what I hear is “Democrat slush fund payment”. Who will track the accounting on this? It’ll go straight to D campaigns and pockets.
That said, you’re correct - how is this even legal? Did Congress vote on it? No.
Socialism, a transfer of payments from the hard working successful people to the union non workers.
Actually, this is at least the second time you have bailed out the Teamsters Pension Fund.
Last time - 2008 - The Great Recession
Actually, now that I think about it, Obama got credit for that bail out, so it must have happened in 2009, or later.
It’s how democrats get big voter blocks the Teamsters and teachers union are two of the biggest donors.
Nothing is on the up and up with the democrat party.
We’ve been laundering money to pension funds for a while now.
Deep State’s just feeling brazen after stealing the midterms and doesn’t feel the need to hide it anymore.