Obama’s Two Mistakes That Lost The Country

[GummyBearz]

63. Corporations are obviously the dominant part of nearly every country's economy today

Traditionally our government has also had anti-trust laws to keep corporations in check, as problems can occur when corporations are allowed to have too much influence on the government or society as a whole. For example when the 2008 financial melt down occurred, instead of letting banks that made bad decisions go bankrupt and get replaced by better run banks (which is how capitalism is SUPPOSED to work), the banks successfully got US tax payers to bail them out of their bad bets, and avoided going bankrupt. If you want an example of a scandinavian country which did NOT do this, do a google search on iceland and what happened with their big banks.

Amazingly, iceland let their banks fail, put the people responsible for the fraud in jail, because hey... there are laws regarding business fraud. And iceland is better off for taking that path.

Anyway, there is nothing Pavlovian about it, and if you honestly think corporations are paying pensions I don't think you know how it works. I am "owed" a pension from a huge corporation, because I paid money out of my pay check into that pension. That money is then invested by a 3rd party, who charges a fee, and could easily lose it all. At which point the pension vanishes. Try reading up on how this stuff actually works. I'll give you a quick quote and link that I found with a google search:

"The amount of money Boeing owes for future pensions is $75-billion – more than the company’s entire stock market value. And it’s only socked away three-quarters of that money. But Boeing is not alone, according to Olivia Mitchell, who specializes in pensions at the University of Pennsylvania Wharton School of Business."

http://www.kplu.org/post/boeings-latest-move-confirms-nationwide-trend-end-pensions


If you care to read more I will assume you are able to google key words and find good articles.