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Reader Comments (11)

Lame Duck Scare for Union Pension Bailout

New rules expected from the Financial Accounting Standards Board (FASB) are causing massive heartburn for Big Labor and fueling a new backroom push in Congress for a taxpayer bailout of underwater union pensions.

With nine Republican co-sponsors of the House bill, Big Labor is pushing for passage during a lame duck session after the November elections.

The proposed FASB rules would require a company to report as a liability on its books the amount of the withdrawal penalty from its union multiemployer pension plan.

The penalties are pricey. One of the largest of these multiemployer funds, Central States Funds, is in such bad shape that UPS paid a $6.1 billion penalty to extricate itself from employee participation in the fund.

Aug 25, 2010 at 12:43 AM | Registered CommenterDailyBail
Once in a blue moon I stumble across a document chock full of relevant material. Such is the commercial real estate (CRE) marketCongressional Oversight Report (COR) produced by a committee chaired by Elizabeth Warren. Much of the source and chart material I provide is from this well-written report.

Aug 25, 2010 at 12:43 AM | Registered CommenterDailyBail
The Iraqi city of Fallujah continues to suffer the ghastly consequences of a US military onslaught in late 2004.

According to the authors of a new study, “Cancer, Infant Mortality and Birth Sex-Ratio in Fallujah, Iraq 2005–2009,” the people of Fallujah are experiencing higher rates of cancer, leukemia, infant mortality, and sexual mutations than those recorded among survivors in Hiroshima and Nagasaki in the years after those Japanese cities were incinerated by US atomic bomb strikes in 1945.

Aug 25, 2010 at 12:44 AM | Registered CommenterDailyBail
Charlie Rangel On Obama: He Hasn't 'Been Around Long Enough To Determine What My Dignity Is'

NEW YORK — New York Rep. Charles Rangel has shot back at President Barack Obama's recent comment that he "end his career with dignity."

Speaking at a candidate's forum Monday night in New York City, Rangel said the president hasn't "been around long enough to determine what my dignity is."

The 80-year-old congressman said it was more likely he would protect Obama's dignity over the next two years.

Aug 25, 2010 at 12:45 AM | Registered CommenterDailyBail
I Told You Housing Was Going to Take a Downturn for the Worse. I’ll Tell You Something Else, We Are in a Housing Depression! It’ll Get Worse Until Market Forces Rule Over Government Bubble Blowing!

Submitted by Reggie Middleton

Aug 25, 2010 at 12:46 AM | Registered CommenterDailyBail
Goldman Expects "Sizeable Additional QE By The Fed", Provides EUR Update

Aug 25, 2010 at 12:53 AM | Registered CommenterDailyBail
Aug 25, 2010 at 12:57 AM | Registered CommenterDailyBail
Aug 25, 2010 at 12:58 AM | Registered CommenterDailyBail
Aug 25, 2010 at 1:00 AM | Registered CommenterDailyBail
"Lame Duck Scare for Union Pension Bailout "

PBGC raids pensions and seizes assets, and the max payout is never more than 12,800 a year, even if the raided fund could support higher under the terms of ERISA.
Aug 25, 2010 at 2:31 AM | Unregistered CommenterS. Gompers

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