Tag Archives: pension

The Securitization Debacle – A U.S. Pension Shortfall: $3.4 Trillion+ [$3,400,000,000,000]

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By Sydney Sullivan

looting the pension fundsShortfall. Unfunded. Underfunding. Sounds like a minimal pension issue – however, it is anything but that. You may have heard the words “shortfall” when your state refers to it’s government budget or pension plan; and, if you are young (say, under 40), you’ve probably not given it a second thought. Just so you know “shortfall” is defined as “a failure to come up to expectation or need” and at 40 it seems like there will be plenty of time and ways to make up a shortfall… not so much when you are 60.

If you’re like many Americans, you’re worried about retirement. Maybe before the new century securitization scheme was launched, a “shortfall” might have been more easily explained and handled. But after 2000, the Wall Street securities system ramped up and took deficits to a new high while lining the pockets of Wall Street traders. How did this happen?

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20 Cities That May Face Bankruptcy After Detroit

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City Of Compton, California Considers BankruptcyGenerated from a Newsmax post:

Think Motown is the only major U.S. city in a boatload of financial trouble? Think again. By Stephen Moore

“Detroit’s bankruptcy filing sent shivers down the spine of municipal bondholders, government employees, and big-city urban residents all over the country. That’s because many of the 61 largest U.S. cities are plagued with the same kinds of retirement legacy costs that sent Detroit into Chapter 9 bankruptcy this summer.  Continue reading →

Stockton, CA CalPERS – The Next Cyprus-like Haircut?

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STOCKTON-BANKRUPTCYSTOCKTON, CA – BANKRUPT!

If you don’t think the Wall Street corruption and securities fraud, including mortgage-backed securities, isn’t affecting everyone – think again. Stockton, California has succumbed to bankruptcy due in large part to bad securities investments.

Look out California public employee retirees for the next Cyprus-like haircuts. Continue reading →

Inside the Hostess Bankery – A Hostess Employee Tell-All

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Via Crooks & Liars, the Daily Kos, a story that reads like a horror movie script. A Hostess Employee Tells All About CEO Gutting Pensions, Pay Scales.

Amazingly, Washington did not offer Hostess a bailout. This discriminatory policy may be a constitutional violation — denial of equal protection of the laws. Since the onset of the financial crisis, the government has decided that some systemically important financial institutions are too big to fail. Why, any fair-minded person will ask, was Hostess not TBTF? How can the American government let an 82-year-old brand can die?

Well first, there is the apparently failed oversight “accounting error”:

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Confidence Game – The Film Unraveling Mortgage Fraud

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Are Promissory Notes actually Securities before the homeowner signed the mortgage documents?  That’s a heavy thought isn’t it?  

Listen to short clip here.

As DeadlyClear interviewed Blue Chip Films Producer/Director Nick Verbitsky about his new documentary film Confidence Game based on the demise and collapse of Bear Stearns, there emerged a confirmation to a missing piece of the mortgage-backed securitization process long suspected by foreclosure defense researchers and analysts that may expose a whole new avenue of fraud and even invalidate/void mortgage loan documents.  

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STOP Justice Department officials – Sign Resolution Against Wall Street Immunity

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Top Justice Department officials are pushing hard to bring the Wall Street immunity deal back from the dead. Can you sign on as a citizen signer of Baldwin’s resolution against Wall Street immunity? Click here to sign.

Fortunately, Rep. Tammy Baldwin (D-Wisconsin) leaped into action with a congressional resolution opposing Wall Street immunity.

Within days, 27 of her colleagues signed on — and the more co-sponsors we get, the more pressure the Justice Department will feel to back off.

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The New Adventures of Super-Schneiderman – Bad, Bad BNYM!

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Attorney General Eric Super-Scheiderman (my hero) is at it again taking on Bank of New York Mellon in yet another stunning lawsuit.  Wake up New York cops! Read what Wall Street has done to you!  Join the protesters on OccupyWallStreet because they are fighting for you, and for America!

THE PEOPLE OF THE STATE OF NEW YORK on behalf of The New York City Employees’ Retirement System, the Teachers’ Retirement System of the City of New Continue reading →

The Greatest Cover-up of All Time – Wall Street and The Treasury Steal the Future

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By DEADLY CLEAR
We are Americans first, not Republicans, Democrats, Unions, Government Workers, Corporate Employees, Retirees – WE ARE AMERICANS!  

WE Americans were scammed “big time” by Wall Street greed and elite wannabes.

Whether you are NYPD, Iowa, Detroit, Baltimore, Chicago, Florida, California, NJ, Washington, Maine or Oregon police (just to name a few), a fireman, teacher, government or corporate employee, FBI, CIA, Judge, prosecutor or clerk – your pension and retirement funds (FERS) were put at risk and are likely gone. Wake up. Continue reading →

The Sucker Punch – The Elite’s Attack on Pension and Retirement Funds

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THE HIDDEN TRUTH

PF-retirement_1666571aBehind the collapse of the economy in the U.S. and around the world is the massive loss of pension and retirement funds belonging to government employees, union workers and corporate 401k beneficiaries – these were the “investors” in the securitization fraud stemming from the unregulated derivatives.  Hordes of lawsuits have been filed by investors against Wall Street banks, but it’s pretty obvious the money is gone. Continue reading →