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Nuclear Unicorn

(19,497 posts)

5. Absolutely.

Reply to Baitball Blogger (Original post)

Thu Dec 18, 2014, 07:04 PM

Dec 2014

They're biding their time hoping to regain the money (probably in even riskier vehicles). However, even assuming they succeed in that endeavor they would then just take those gains and reinvest them, thus never recapitalizing the pension funds.

It's becoming a Ponzi scheme except the true owners of the money have no say over whether or not to participate.

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Highlight:

Is Pension Looting a strategic maneuver to hide poor accounting practices? [View all] Baitball Blogger Dec 2014 OP

Not sure, but flat out thievery hifiguy Dec 2014 #1

Longstanding practice...look at the pension mess in Illinois HereSince1628 Dec 2014 #2

when the money is long gone and the theft is about to be discovered Man from Pickens Dec 2014 #3

annnnd...it's gone. Rex Dec 2014 #9

Occam's Razor says the simplest explanation is the most likely one... JHB Dec 2014 #4

Absolutely. Nuclear Unicorn Dec 2014 #5

If it walk like mstinamotorcity2 Dec 2014 #6

No, it's blatant asset-looting. Odin2005 Dec 2014 #7

One of the virtues of communism is: there are no private assets to loot. Nuclear Unicorn Dec 2014 #10

No it is just regular looting of the working class. Same as always imo. Rex Dec 2014 #8

It's pure wage theft. Starry Messenger Dec 2014 #11

There it is TheKentuckian Dec 2014 #12

I Think It's An Excuse RobinA Dec 2014 #13