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View Diary: Bwahahahahahaha! American Airlines and Bain Capital. (282 comments)

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  •  the thing that also burns me up about it: (18+ / 0-)
    Joshua Gotbaum, director of The Pension Benefit Guaranty Corporation (PBGC) – the federal agency that helps secure failed pension plans – said “before AMR takes such a drastic action as firing 13,000 workers and killing the pension plans of 130,000 employees and retirees, it needs to show there is no better alternative. The company had failed to provide even basic financial details.”

    that these hypocrites get to rely on a FEDERAL FREAKING AGENCy to secure failed pension plans.

    Makes me fucking sick.

    I've become re-radicalized. Thanks a lot you bunch of oligarchical fascist sons-of-bitches. But once again, I have no choice. Bring it the fuck on.

    by mdmslle on Mon Feb 06, 2012 at 03:02:21 PM PST

    •  This whole saga needs to be in the press/media (3+ / 0-)
      Recommended by:
      mdmslle, freesia, NWTerriD

      whatever for the duration. And hell, there are a lot of AA employees all over the place. Sure as hell they will be talking about it.

      "We're here to start a dialog, nothing more. We keep quiet and let the press, the politicians, and the Wall Streeters hang themselves." h/t .- pistols at dawn. I'm a Sacramento/San Joaquin Kossack. Are You?

      by mrsgoo on Mon Feb 06, 2012 at 03:38:51 PM PST

      [ Parent ]

    •  mdmslie - every defined benefit plan (1+ / 0-)
      Recommended by:
      johnny wurster

      over a certain size pays an annual insurance fee to the PGBC which is the source of funds for the bailouts. The PGBC isn't financed by taxes. The Pension Benefit Guarantee Corporation was established by ERISA in 1974.  The insurance premiums are significant and is one of the many reasons that ERISA was the start of the switch from defined benefit plans to 401K type retirement programs.

      "let's talk about that"

      by VClib on Mon Feb 06, 2012 at 07:39:29 PM PST

      [ Parent ]

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