Sunday, September 11, 2011

Newt Gingrich Pushing Bill To Allow States To File Bankruptcy Allowing Them To Renege On Pension And Benefit Obligations

Some unpleasant news for pensioned workers who believe that their insolvent state will be able to afford ridiculous legacy pensions in perpetuity. According to Pensions and Investment magazines, Newt Gingrich is pushing for legislation that will allow insolvent states to be taken off bailout support and file bankruptcy, in the process allowing them to renege on pension and other benefit obligations promises to state workers. And if there is anything that will get government workers' blood pressure to critical levels, it is the threat that money they had taken for granted is about to be lifted, courtesy of living in an insolvent state (pretty much all of them). And obviously what this means for equity investors in assorted muni investments is that a complete wipe out is becoming a possibility, as Meredith Whitney's prediction, which everyone was quick to mock and ridicule, is about to come back with a vengeance.

well, in a society of reason
you would think governments and states
would reduce their dinosaurs inefficiency
their pharaoh buildings and useless projects
and their cast employment "superior" clientele
but think again
"the holy cast" rights are "not negotiable"
so they are going to "consume" all their "subjects" pity wealth
steal grandma and grandpa pensions
take from the food of the homeless to pay for their limousines
"they", the poor thing public leaches, have to keep "their standard of living"
"pajasu", go find the meaning
you "superior" leaches "with standards", that "know everything"
grown up in a sheep society under a pig god, made at you pigs image
my poor father was republican
too good that religious bulls are just fantasy stories
if there was an afterlife you pigs would have all the ghosts
of your party founding fathers chasing you around


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