Will Rising Union Activism Expose The Zombified US Pensions
December 26, 2012 - 1:20pm
Over the last few years, and at an increasing pace as of more recently, unions have become more and more confident of their ability to effect change and taken much more aggressive activist positions against the capitalist oppressors. The most recent examples range from California cities to Twinkies-maker Hostess Brands, and each time the stance from the unions appears to have been far more aggressive (and M.A.D. prone) than in the past. The question is why? Perhaps, as we tweeted following Hostess' liquidation: Will the broke PBGC step in and fund Hostess' 18,000 workers suddenly vaporized pensions? — zerohedge (@zerohedge) November 16, 2012 ...It is the confidence of an all-powerful government at their back with the US Pension Benefit Guarantee Corporation, which is the backstop for private sector plans, providing cover. The problem is, as UBS explains, the PBGC has a hu...
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