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Politics : Foreign Affairs Discussion Group -- Ignore unavailable to you. Want to Upgrade?

To: Bilow who wrote (158508)	2/25/2005 7:02:32 AM
From: jttmab	Read Replies (1) \| Respond to of 281500

My point was not the offering of power with different rates according to what the source is attributed to be, but instead about the concept of holding consumers liable for long term unfunded liabilities. And who else is going to be liable? The CEO? The Board of Directors? One way or another the unfunded liabilities are transferred to the consumer. Either directly in terms of increased prices or indirectly in terms of taxpayer [consumer] funded bailouts. Or both. Consider the unfunded liabilites of the tobacco companies and the judgements or settlements. They may have been levied against the tobacco companies but those costs were just transferred to the consumers that use tobacco. Tobacco users file suit against the tobacco companies than the next generation of tobacco users pays the earlier generation of tobacco users and the tobacco companies are the conduit for the payments. The Fed and States file suit against the tobacco companies for health care costs [unfunded liabilities] and the tobacco companies pay those costs through increased prices to the tobacco consumers. The unfunded liabilities associated with the S&L collapse; transferred to the consumer through taxes that paid for the bailout. Consider just one aspect of money flow after 9/11. Lloyds of London paid out huge sums of money on claims. They just didn't eat that and shrug it off. How did LLoyds cover that cost? Unfunded liabilities always flow down to the consumer. How they get there is a matter for the accountants to determine. jttmab