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  • Wall Street Breakfast: Must-Know News [View article]
    The automakers, along with most of the Fortune 500, have been underfunding their pension plans for years (decades?). Worse, they've been permitted by regulators to "fund" their plans with stock, so it doesn't take a rocket scientist to figure out the health of most pension plans currently. To allow any company to dip into already-depleted pension plans to fund current operations would be - what descriptive adjective to use ? - disastrous. Perhaps fraud. Certainly inadvisable.

    If government regulators continue to allow US corporations to use their pension plans as piggy banks to steal from and toilets to dispose of depleted assets, the Penson Guarantee Fund will eventually be the universal payer of retirement benefits. Bend over taxpayers, corporate America has another gift for you.
    Nov 28 10:56 am |Rating: +2 -1
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