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To: Kirk © who wrote (2456)	4/14/2010 4:06:27 PM
From: robert b furman	2 Recommendations Read Replies (1) \| Respond to of 222248

What a DAY !! My account is rockin. I actually am now above water for the first time in over 2 years. Feelin Frisky. I do believe that those states that allowed pensions to the many state employees, will have to curb the commitments or at least freeze them. I doubt other states will be receptive to bailing out other states easy pension problems . The PBGTrust surely can not pick it up. My bet is that bankruptcy will throw the plans into the BPG Trust and depending on the level of underfunding - the state's pension obligation will be cut by the degree of underfunding. This is what happened to all of the airlines - Delta Eastern. At that point government spending will be frozen and benefits cut. The run away waste of too much government will become to be known what it truly is: wasteful inefficient squandering of money. When that gets the ax - transfers of wealth will also be viewed as fool's work. Don't blame me I didn't vote for him!<smile>