h2g2 The Hitchhiker's Guide to the Galaxy: Earth Edition

http://www.csmonitor.com/2005/0616/p25s01-cogn.html?s=u

All those pensions and retirement funds down the drain!
I cannot believe the rapid rate that Americans are losing their savings and retirement funds. It makes me mad United Airlines was allowed to scrap their guarantee of a pension fund.

It is not illegal but it is a travesty.
There is a rumor of a buyer standing in the wings. I do not understand how you rate being forgiven that promise. I do not understand how the government will come up with it either. Of course they cannot promise, may pay pennys on the dollar if that.

Between all the bankruptcies , corruption, stock market shenanigans and plain old embezzlement and misaaproprations it is a wonder there are very many real funds left at all.

I liked seeing a wriiten appraisal about the Social Sscurity "fund" and how if it were to be an actual trust fund then it would be illegal to drain it.

Oh that Is terrible abbi! Like the article says about United Airlines, "grossly irresponsible"!

I didn't read the link abbi,but the pension situation is the same here in england.There are many fighting to get what they entitled to,and have been for years.It is appalling that people can't, and wont, get what they should be legally entited to.Again the more senior citizens will suffer,after working and paying .In england we have hardly any social sevice care homes left,they have been sold .The private sector cannot comply with the regulations that have been imposed for elderly care homes,so are closing,and the hositals are closing down the elderly admissions wards at a disgusting rate,and if they wanted to pay for /god/private care,they now have no expected pension to do so.

PC has been telling me that if you are declared bankrupt in the US then the credit companies have rights to take everything to get back their money. I found that shocking, but bearing in mind Enron and the issue you have raised here with Uinted Airlines, I am no longer surprised.

There is an ethical black hole now, where the quality of life for the average person, means nothing.

Hi, Abbi, Smurfles and everyone,

It seems we are all in the same boat, and it's sinking! Our predicament in the UK has been precipitated by our dear Prudence raiding the pension funds for £5billion every year since they came to power.

To those outside the UK Prudence is the nickname of our dear Chancellor of the Exchequer, who is supposed to have been SO prudent and such a good man, but has managed to get us in to the blackest hole ever. When the hits the fan, which it must eventually, we shall be lucky to have anything left in this country.

Smurfles, I am rather glad to be a pensioner now rather than in the future, as it can only get worse. What I cannot understand is how we all stand back and let them do it to us

It is no confort whatever to know that the US is in the same poor shape, but then they are big buddies, aren't they?

Oooh, it's too hot to rant, I need a with an


Websailor

well look at the money they spent on the new scottish parliament ,there was nowt wrong with the old one . the money could have went to better causes.tig

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I don't see why debts to employees, such as pensions and retirement funds, would not be rated as more important than debts to outside creditors, or high salaries and benefits for the executives.

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Why would it? The average person can't afford lobbyists or big campaign contributions.

the ones who can afford lobbyists or big campaign contributions have another devious script towards the decent people. war is waste of money.

"there willl be only ever be one revolution - the revolution that the children carry within them"
a quote from the cd booklet of Jean-Michel Jarre's revolutions.
I think it is true!

may your innerchild be with you!


do not follow the wolf in sheep's clothes.


for the good Abbi

>I don't see why debts to employees, such as pensions and retirement funds, would not be rated as more important than debts to outside creditors, or high salaries and benefits for the executives.<

That's exactly what happened at my previous job, when the company closed last December. Apparently paying off their vendors was more important than paying owed wages and vacation pay.

So many people do not even try and save.
To have saved in any, including matching funds with your employer it takes discipline and perhaps doing without some for later gratification and security.

It really upsets me people did plan ahead and still loose out.
I have never heard of a case of the top executives leaving without a pension , they recieve a golden parachute in most cases whether they ran the company into the ground or not.

Some older folks I know have lived long enough to be making more in retirement than they did at their jobs. Granted it takes more dollars 50 years later! They were not the best of plans at the time either but they are getting people through.

My parents generation always stressed benefits when getting a job. It may turn out only those who were children during the Great Depression and followed the "rules" are the only ones to have a guaranteed retirement. Rules= All would be Ok if you just worked hard at a job with benefits and saved a bit for a rainy day.

Used to be if your main debt was medical bills you were allowed some time or relief from creditors as long as you were trying not irresponsibly run up debt. That was changed recently by those whom have the gall to call themselves compassionate conservatives.

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Not sure what country you mean--in the US I don't think I've heard that phrase used by anyone to describe themselves since the 2000 election, if you're talking about a different country, odd that someone else is using the same phrase as Bush origionally used.

I hear it every few months (US)
from a limited number of conservatives that speak more readily or more often. They are right on the line where the split is begining to form in the party. I hope it continues and results in a more moderate conservative view.

I can dream!

CSPAN is is where I have heard the phrase. I like it because it's straight from their mouths before any chance of interpetation ,*over the sound bites, during an opinion piece or cleaned up for a news-like show.

It was used during the T. Shivano story when the incident became political. I recall that because I could see that both sides were trying to be compassionate , just different methodolgy.