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Politics : View from the Center and Left

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To: richardred who wrote (462)	6/7/2005 2:25:06 AM
From: Dale Baker	Read Replies (2) of 541431

That raises an interesting philosophical question with practical implications. Should a private sector pension be as risky as private sector employment in general, i.e. maybe you work and maybe you don't depending on how the company does? Theoretically it seems to me that if you have a contract with an entity that goes out of business, you are screwed. This current business of putting a company into Chapter 11, dumping the pensions and then reemerging as an operating entity is a racket. Keep the company, keep the pensions. If the company folds, we can decide what if anything a government should do to help the innocent victims whose pension just blew up. I don't have strong feelings either way. Open for debate.

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