Re: United Airlines’ plan to terminate its employees’ pension plans
It is getting more so.
The users of overaggressive credit card giveaways to poorly qualified people, have got the govt to bail them out when a citizen defaults and files for bankruptcy.
However, the corporation can default on pensions obligations, passing the buck to the federal pension guarantee agency (i forget the exact name of the agency). Of course setting up the agency (during Nixon's term I believe) was a recipe for this sort of thing.
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