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Rated PG-34 posted:No. If there was a pension fund bailout, you can drat well bet it would've made the news. People would be touting Obama's grand benevolence from every orifice. Please cite a news source. You are fundamentally misunderstanding this dude. Pension funds don't sit on their money, they invest it. Pension funds also don't invest the money themselves because they aren't equipped to do that. Take the pension funds of the state of Texas. These were owned by AIG which was on the verge of bankruptcy due to their retarded practices. If AIG went bankrupt that would destroy the pension plans of millions, we are talking pennies on the dollar losses. The state of Texas was prepared to seize AIG subsidiaries in an attempt to get back dimes on the dollar if push came to shove, and the only thing that prevented this total meltdown, and saved the pension funds, was the bank bailouts. Yes it is possible to have bailed out the pensioners directly, but it is false to say that they were not bailed out at all.
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Nov 16, 2016 23:36
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Veskit posted:I think he's in the Jill Stein camp in that qunaititative easing is just financial fuckery and you can't just QE a pension plan. That isn't even QE though, that was straight up "Here is a comically large bag of loving money with $$$ signs on it" bailout. I mean QE certainly qualifies afterwards, but collapse of serious institutions was all but assured without the stimulus.
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Nov 16, 2016 23:49
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Rated PG-34 posted:Sure, giving money to the banks supposedly ensured the economy from complete collapse, and people were invested in that economy. However, that's not the same thing as bailing out a pension fund that can't meet it's obligation to its pensioners. Pension funds were still allowed to default. So we're banks. If AIG or institutions like it had collapsed the pension funds they serviced would have been unable to meet their demands as well. I mean here: Johnny the pension find guy takes in $100 from his pensioners with the promise to pay them back with interest in ten years. Johnny invests in Joe Cassano's house of lovely derivatives. Cassano gambles (note how close his name is to casino, real person though) and loses. He has no money to pay Johnny. Uncle Sam pays Cassano who can no pay his pensioners. Why the gently caress do you only call it a pension bailout if uncle Sam pays Johnny or the pensioners directly. The whole reason these banks were considered too big too fail is due to functions like pension investments Thst would have been obliterated. AIG only got the money and assistance it did because the alternative was horrific.
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Nov 17, 2016 00:14
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Echo Chamber posted:As an American, I thought that election was totally overblown by pundits and traditional partisans who believe RESIST means merely throwing money at any Democratic candidate. The Montana race should have been a sign that people shouldn't have put a lot of eggs in one basket. The big difference is the French election involved literal fascists, while the UK election was the same old poo poo. People were concerned France was about to pick up a ticket to crazy town, while the UK was expected to keep on sinking in poo poo.
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Jun 23, 2017 01:49
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BIG HEADLINE posted:That was also the most aesthetically kind depiction of Nixon I'd ever seen. 
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Jul 4, 2017 06:43
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