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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: mishedlo who wrote (98049)	5/29/2009 11:44:02 AM
From: Sunny Jim	1 Recommendation Respond to of 116555

<<Bankruptcy is one of the few means available capable of bringing about much needed pension reform.>> Bankruptcy is now the solution de jour for broke entities including companies, states, municipalities, and individuals. What happens to pensions for companies, states and municipalities when they declare bankruptcy. It seems like you can decrease pension promises but even those are probably still not adequately funded. One approach is to put the liabilities off on the Pension Guarantee Corp. However, like the FDIC, it would be on the brink of being broke, wouldn't it? It seems like we're hiding behind a curtain of a lot of naked guarantees. Obviously I don't know much about this subject, so can someone help?