Huge Teamsters Pension Fund demands taxpayer-funded bailout.

[ShootSpeeders]

The banks, the auto companies, the college students... Everybody demands a bailout for their own mismanagement. I say give them a benefits reduction.

Here Come A Lot Of Angry Teamsters: One Of America's Largest Pension Funds Demands A Taxpayer Bailout | Zero Hedge

may 12 2016 Over the past few months, we have covered the unfolding saga (here and here) of the Central States Pension Fund, which handles retirement benefits for current and former Teamster union truck drivers across various states including Texas, Michigan, Wisconsin, Missouri, New York, and Minnesota, and is one of the largest pension funds in the nation, all the way through Kenneth Feinberg's rejection of the proposal to cut benefits on behalf of the Treasury.

When the proposal was rejected, we said that the final resolution will be in the form of an inevitable taxpayer-funded bailout

If the Treasury won't allow any pension cuts, and the government created safety net won't be there to keep the benefits flowing, how will the cash continue to flow to members? With the precedent now set by the Treasury that no cuts will be allowed, the answer will likely come in the form of a massive bailout.
As it turns out, that is precisely what fund director Thomas Nyhan believes as well. Nyhan said the rejection means the CSPF likely won't be able to offer another proposed fix without getting funding from Congress, either directly or through the Pension Benefit Guaranty Corp.

However with the PBGC also on its way to insolvency, and unable to shoulder the additional burden in world of zero and negative rates, that leaves us with... drum roll please... the US taxpayers, aka Congress, footing the bill.

 

[OnePercenter]

What mismanagement do you write of?

 

[ShootSpeeders]

What mismanagement do you write of?

Are you serious.? You're so dumb you think it's smart for college kids to go $100,000 into debt so they can get a degree in a no-jobs field like ecology.??

 

[OnePercenter]

What mismanagement do you write of?

Are you serious.? You're so dumb you think it's smart for college kids to go $100,000 into debt so they can get a degree in a no-jobs field like ecology.??

Are you serious.? You're so dumb you think it's smart for college kids to go $100,000 into debt so they can get a degree in a no-jobs field like ecology.??

So you have nothing except bloviating.

 

[Wry Catcher]

What mismanagement do you write of?

Are you serious.? You're so dumb you think it's smart for college kids to go $100,000 into debt so they can get a degree in a no-jobs field like ecology.??

Are you serious.? You're so dumb you think it's smart for college kids to go $100,000 into debt so they can get a degree in a no-jobs field like ecology.??

So you have nothing except bloviating.

and racism, bigotry and of course hate.

 

[ShootSpeeders]

Are you serious.? You're so dumb you think it's smart for college kids to go $100,000 into debt so they can get a degree in a no-jobs field like ecology.??

So you have nothing except bloviating.

The board notes you never addressed my question and instead stooped to namecalling. It must really suck to be a hater.

 

[OnePercenter]

Are you serious.? You're so dumb you think it's smart for college kids to go $100,000 into debt so they can get a degree in a no-jobs field like ecology.??

So you have nothing except bloviating.

The board notes you never addressed my question and instead stooped to namecalling. It must really suck to be a hater.

The board notes you never addressed my question and instead stooped to namecalling. It must really suck to be a hater.

You never posted a question, just bloviating.