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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: yard_man who wrote (6036)	1/23/2004 5:47:45 PM
From: mishedlo	Read Replies (1) of 110194

White House Threatens Pensions Bill Veto Good god are they finally gonna do something right? Three Cabinet secretaries said they would urge President Bush to veto a widely backed bill to ease pension burdens if it contains provisions giving special relief to airlines and other companies that have fallen behind in their pension payments. Labor Secretary Elaine Chao, Treasury Secretary John Snow and Commerce Secretary Donald Evans said in a letter to Senate Majority Leader Bill Frist that it would be "irresponsible" to enact legislation that "would significantly further exacerbate systemic pension plan underfunding." The three make up the board of the Pension Benefit Guaranty Corporation, which insures the defined pension benefits of 44 million Americans. The letter was made public Friday. apnews.excite.com

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