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Pension Philandering – More Corporate Welfare

Tell me why Exxon with record profits, ability to pay their outgoing CEO something on the order of 400 million, cannot fund their employees’ pensions and is going to leave it to the American taxpayer to pay off these pension funds? Are we so asleep we don’t even care that corporate America is ripping off not only their own employees, but all tax-paying Americans whose hard-earned dollars fund the pension guarantees these companies figure will pay the bill for them?

Scarborough Country said it right tonight – too few Americans are paying attention. It’s like little corporate raiders are stealing money out of your bank account every month – not enough that you realize it, but if you add it up over your lifetime you are talking a big chunk of change. A series in the LA Times wrote this weekend about how 401Ks are sucking hidden fees out of your retirement. In cases where people were assiiduous savers, it would ad uup to almost 100,000 over their life time of savings ripped off.

We have become too terribily comfortable with letting big business and lackey politicians make our decisions for us.

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