Tag Archives: unions

Grotesque Plan for Detroit: Fleece Working People to Save the Banks

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Hands-off-our-Pension-June-10Municipal workers could be robbed of pension funds to pay big banks for payments due on interest rate swaps.

The Detroit bankruptcy is looking suspiciously like the bail-in template originated by the G20’s Financial Stability Board in 2011, which exploded on the scene in Cyprus in 2013 and is now becoming the model globally. In Cyprus, the depositors were “bailed in” (stripped of a major portion of their deposits) to re-capitalize the banks. In Detroit, it is the municipal workers who are being bailed in, stripped of a major portion of their pensions to save the banks.

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Wall Street Killed Twinkies – Not the Unions

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Over-Leveraged Acquisitions, Mergers, and Bad Wall Street Investments Killed Twinkies – Not the Unions. Another Death by a Hedge fund.

If it wasn’t obvious after the Wisconsin tirade of union abuse that big business wants to bust all unions – it certainly should be now.  Looking at any company’s or municipality’s financial debacle you will usually find a link to bad Wall Street advice or investments. This is certainly true for Hostess Brands.

Founded in 1930 by Ralph L. Nafziger, the sad story of the demise of Hostess Brands, formerly known as Interstate Bakeries Corporation, and its bankruptcies stem from more recent bad management and investment decisions which created the loss of its employee pension funds – a problem that our government fails miserably to protect and properly regulate. Continue reading →