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Call your congressman NOW! Stop this!

Discussion in 'Political Discussion' started by PatriotsReign, Dec 22, 2009.

  1. PatriotsReign

    PatriotsReign Rookie

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    Now we have a company begging the taxpayers to bail out his company's pension plan.

    If you have any sense of fiscal responsibility, I URGE you to call your congressman to stop this. Say "NO" to bailing out private pension plans. Irresponsible investing doesn't deserve a dime of taxpayers money!

    Beware the Taxpayer Bailout of Underfunded Teamsters Pension Funds

    This was going to be a "quick" post on the pending bankruptcy of YRC, the nation's largest trucking company. Instead, I have been digging around for several hours as the story morphed into a spiderweb of pension obligations culminating in a Ponzi scheme sponsored by representative Pomeroy to bailout private pension plans at taxpayer expense.

    Struggling No. 1 U.S. trucking company YRC Worldwide Inc plans to seek $1 billion in bailout money from the Troubled Asset Relief Program to help it cover pension obligations, a move analysts say is unlikely to succeed as the company has no financial charter.


    http://globaleconomicanalysis.blogspot.com/

    http://www.bloomberg.com/apps/news?pid=20602007&sid=a9kPU.MsW.xg

    Just because the company is unionized, doesn't make it deserving of a bailout. We should be done with bailouts anyway since we can't afford them.

    Rep. Earl Pomeroy, North Dakota Democrat, is drafting legislation to bail the pension plan out....the man is a fool!

    Please call your representative and oppose H.R.3936, especially the PBGC provisions that mandate taxpayer bailouts of private pensions.
    Last edited: Dec 22, 2009
  2. patsfan13

    patsfan13 Hall of Fame Poster PatsFans.com Supporter

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    Payoff for unions money launderers for the dems what else do you expect, BTW money for ACORN in the Senate Health bill abortion too.
  3. wistahpatsfan

    wistahpatsfan Rookie

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    Cool!
    You got "Health bill", "ACORN", and "abortion" into one incoherent sentence!
  4. patsfan13

    patsfan13 Hall of Fame Poster PatsFans.com Supporter

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    Glad to see you have dropped the libertarian pretensions and are onboard with using taxpayer money to fund graft.
  5. wistahpatsfan

    wistahpatsfan Rookie

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    I agree. No one bailed out Polaroid and their employees' stock-based retirement accounts when their stock crashed through the floor. Bailouts are yet another fine example of how there is no real difference between Bush and Obama

    [​IMG]
  6. wistahpatsfan

    wistahpatsfan Rookie

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    All I was saying in response to you was that your post made no sense.
    Try reading my next post, genius.


    ....Libertarian pretense......:rofl:
  7. Harry Boy

    Harry Boy Look Up, It's Amazing PatsFans.com Supporter

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    Oh God, his speeches are thrilling, I get goose bumps just hearing his voice.

    What a gorgeous smile.

    I had dream I was in the shower with him (maureen dowd)

    If you don't get thrilled when you hear him speak your not an American (chris slop mouth matthews)

    He walked onto the stage, blew his nose and 34 democrats fainted.

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  8. Mrs.PatsFanInVa

    Mrs.PatsFanInVa PatsFans.com Supporter PatsFans.com Supporter

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    #11 Jersey


    Um, actually PBGC is covering those pensions.

    POLAROID PENSION PLAN
  9. PatriotsReign

    PatriotsReign Rookie

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    Yeah, thanks Wistah! This is about this bailout only. I actually support a womens right to choice...but that's irrelevant anyway.
  10. PatriotsReign

    PatriotsReign Rookie

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    I've never seen that pic....that's awesome!
  11. wistahpatsfan

    wistahpatsfan Rookie

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    I might be wrong, but that looks like it's only addressing those who already had retired before the collapse of Polaroid stock. I don't have time to read the whole plan based on that link, but it doesn't look like it does anything to recover the accumulated value of the pensions that long-time, fully vested employees (not retirees) lost before they retired. Many of those employees were laid off or left to try to rebuild their future when their company was going down the crapper.

    Either way, it's wrong for the government to continue bailing out companies that made stupid and wreckless decisions. Almost all pensions are in danger of collapse due to the longer lifespan and higher medical costs of their retirees. What is the government going to do? Continue to bail out every pension?

    BTW, I don't see what unions should have to do with who gets bailed out or not.
  12. PatriotsReign

    PatriotsReign Rookie

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    PBGC is NOT funded by taxpayer money. Rep. Earl Pomeroy wants to bailout this pension plan with taxpayer's money. Keep in mind that if PBGC takes over this plan, it will only pay out a percentage of the actual plan amounts. This chump doesn't want that, he want US to pay for these peoples' retirement!

    NO, no fuggin way!
  13. Mrs.PatsFanInVa

    Mrs.PatsFanInVa PatsFans.com Supporter PatsFans.com Supporter

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    #11 Jersey

    I never said it was. I was responding to the remark that Polaroid's pensions weren't honored by anyone which was untrue. PBGC took them over.
  14. PatriotsReign

    PatriotsReign Rookie

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    So, are you against bailing them out with our tax dollars?
  15. Mrs.PatsFanInVa

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    #11 Jersey

    From the PBGC Polaroid FAQ:

    If you are already receiving a pension benefit from your plan, we will continue paying you without interruption. These payments will be an estimate of the benefits that PBGC can pay. Your benefit may be adjusted for the limits set by law. To find out more information see: Payment amount

    If you are not yet receiving pension payments, find out more about when you can apply for a pension, here: Apply for your pension benefits
  16. Harry Boy

    Harry Boy Look Up, It's Amazing PatsFans.com Supporter

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    Your All Going Through "The Change We Can Believe In"

    LIVE WITH IT

    Merry CHRISTmas Aunt Zucchini It's Great Country Ain't It


    Payback In November Destroy The Dirty Bastards Vote Them Out All Of Them America Needs To Be Fumigated From These Democrat Swine
    Last edited: Dec 22, 2009
  17. BelichickFan

    BelichickFan B.O. = Fugazi PatsFans.com Supporter

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    #24 Jersey

    Call you congressman ? Dude, are you kidding ? They don't give a sh!t, man. Check out the 60% against the healthcare plan - big difference that makes.

    Just hang on until November and vote them out. Calls won't make a difference.
  18. Real World

    Real World Moderator Staff Member

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    My money should never go to someone's pension plan. That's BS. :mad: Bankruptcy baby. It's the only way we're ever going to right this sinking ship. People have to learn the hardway that pipe dream promises, and unrealistic fiscal models, will ultimately fail. REALITY is what it is, and no one else should pay for the stupidity, or failures, of others.

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