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To: Jim Willie CB who wrote (5133)	7/18/2003 2:05:54 PM
From: RealMuLan	Read Replies (3) \| Respond to of 5423

U.S. House panel backs corporate pension fix Reuters, 07.18.03, 10:57 AM ET WASHINGTON, July 18 (Reuters) - U.S. companies with underfunded pension plans would get relief for three years under legislation backed by the House of Representatives Ways and Means Committee on Friday. Traditional "defined benefit" corporate pension plans would be allowed to assume a return based on an index of high-grade corporate bonds, a higher return than the current formula based on 30-year U.S. Treasury bonds. Total pension underfunding exceeds $300 billion at U.S. companies, with $60 billion in the auto industry, according to the agency that bails out troubled corporate pension plans. The measure that passed by a voice vote now goes to the House floor. Copyright 2003, Reuters News Service forbes.com

To: Jim Willie CB who wrote (5133)	7/18/2003 2:17:42 PM
From: RealMuLan	Read Replies (1) \| Respond to of 5423

>>we soon will find trade barriers everywhere<< If the US congressmen do their job. But I am not sure whether this will happen<g> >>scapegoats e.g. Arab oil producers, FOREX currency speculators, Asian exporters<< Arab oil producers as scapegoats, the US will have a hard time to rob their oil<g> just look at what is happening in Iraq. Asian exporters as scapegoats, the worst will happen is trade barriers/protectionism on US side. it will be the gain for some US workers (not many), but a loss for majority of the US consumers (no as much dirt-cheap staff to buy). And the even-increasing middle-class in China and India, and in other Asian countries, will be able to replace the majority export loss due to the growth of US trade barriers. FOREX curreny speculators, unless they do something illegal, which is rare, the US can do nothing about it.<g>