Pension Benefit Guaranty Corporation: Federally-Chartered Retirement Body Flunks Independent Audit

The Center for Public Integrity:

Last November, the federal corporation charged with protecting Americans' retirement funds issued an ominous public warning: the amount of pensions at risk inside failing companies had more than tripled during the recession.

Read the whole story: The Center for Public Integrity

Comments

[Y3rMawm]

01:08 AM on 05/04/2010

Mark my words...PBGC is the next bailout. If we make it that far.

[themodernleader]

10:04 PM on 05/03/2010

In my study of the Bush Presidency, I predicted that Bush would be seen as the worst leader in American history. Now every Executive agency that is opened to the light of day is suffocating with fraud, thievery and unpredicted debt and indebtedness. If we lived under the Roman Emperors such incompetence would have consequences.

[VoteThemAllOut]

03:28 AM on 05/04/2010

One (call it two) question(s) - where is the promised 'hope and change; where is the promised 'transparity'?

[xilduq]

08:44 PM on 05/03/2010

is this better, mr or ms moderator, if i say it s.o.f.t.l.y?

p.o.n.z.i. . .s.c.a.m

pure and simple

[madprogressive]

05:24 PM on 05/03/2010

More of the house of cards falling!

[lightningbolt]

04:51 PM on 05/03/2010

This is exactly why I am buying silver and storing it at home in a safe. It will guarantee that I will have something to retire on if the pension systems collapse. This has happened many times in other countries with enormous amounts of debt.

[Changeizgood]

08:17 PM on 05/03/2010

Looks like somebody bet the house and lost.

The company should be sued. Pension gaming by The Supranos on Wall St.

the banksters all used the fed pensions as collateral.

Follow the money, and he crook will be found. They shouldn't get to spend one dime of that money they have stolen.

More embezzlement and fraud.

What the heck where the shareholders doing with these "too good to fail" bs. They fell asleep at the watch and like a good soldier that has breached security, they should be put on trial and fined, and JAILED FOR LIFE.

THEY USED LIFE PENSIONS, THEY GET LIFE JUST LIKE ALL THE OTHER CIVILIAN RIGHTS CORPORATIONS WANTED.

Can't pick and choose your rights. NO loopholes as a citizen, NO loopholes as a Company!!

[Y3rMawm]

01:11 AM on 05/04/2010

Exactly why individuals should be allowed to keep their money, and not send it to the district of corruption....everything in moderation of course.