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.