Congressional leaders hammer out deal to allow pension plans to cut retiree benefits | WHAT REALLY HAPPENED

Congressional leaders hammer out deal to allow pension plans to cut retiree benefits

A measure that would for the first time allow the benefits of current retirees to be severely cut is set to be attached to a massive spending bill, part of an effort to save some of the nation’s most distressed pension plans.

Webmaster's Commentary: 

These pension plans were put into distress when Wall Street's pet ratings agencies rated the mortgage-backed securities as "Triple A", making it legal for pension plans to invest in them. Then when the fraud collapsed in 2008, pensions were defunded. But nobody in either government of the corporate media had the gonads to point the finger of blame for the pensions problem where it belonged and instead blamed "greedy" workers and anyone who had the temerity to live to a ripe old age. So, together with the proposal to drop the derivatives losses onto the American people, this proposed bill is another example of Congress screwing ordinary Americans to pay for Wall Street's crimes!

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