Hurry Gov't Workers....Keep Propping Up Madoff!!!!!...or you are Fired!!!!!
April 01, 2010
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LOS ANGELES—Mayor Antonio Villaraigosa once organized for a teacher's union here, and later ran a branch of the American Federation of Government Employees. That makes him an unlikely advocate for cutting the benefits of the city's workers.
But with the city facing a budget deficit that could drain its reserves by summer, Mayor Villaraigosa wants to re-open contract talks with 45,000 cops, firefighters, librarians and other city employees in hopes of persuading them to contribute more to their pensions and health-care costs. His deputy chief of staff, Matt Szabo, puts it bluntly: "Unions have priced themselves out of a job."
http://online.wsj.com/article/SB10001424052748704059004575127991641216702.html?mod=WSJ_hpp_MIDDLTopStories
Remember...if we don't keep contributing to pensions....who is going to keep buying Wall Street's junk?
Right now, it appears that Pensions buying debt are the primary source of funds keeping Politicians in their jobs and the bonuses flying to Wall Street and public company executives.....
Could you imagine if Madoff's clients were forced to keep handing over money to Bernie....the scam would still be going today.
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