Page 836 - Pensions News Today

I went in and looked at the sexing -- se xting messages and not easy. there are a couple of auto correct errors. one says i make me crazy instead of you make me crazy. nothing ruins a sexting dialogue like auto correct. oh, i want you to touch my pension. >> i dont know. for a lot of greedy people that is a turn on. i can touch a few pensions at this point. kevin, what is going on? you can analyze this mans brain. does he assume if he ignores this problem we all will? >> i think he is nuts. he h...

>> interesting in the runup to the speech, a lot of reporters say well, you know, mr. president, these are all good ideas, but some of them you said before, some of them sound great, but you cant get those through congress. republicans wont agree with you. >> now do you finally get it? do you see the nexus of control and power before you? no one, including its enforcers even wanted it, because the reporters did. there you go, america. the reason for every bad idea from crippling pensions to poin...

Out and said detroit needs federal help. they have a lot influence among democrats. does detroit deserve a bailout? >> absolutely not. not my more than california deserves a bailout or any other municipality or state that got into trouble because they took on too much debt which is basically what the problem is. they have $18 billion in debt. some portion of that is pensions. not even a majority. >> what about the argument that, you know, detroit is a victim of the economy. auto industry is -- y...

Left in it. >> very good. jonathan? >> i like senior loans like snln. i own it. >> great. thanks for hanging out with us.s thats it. before w e go,of have you seen s commercial? the post office saying it doesnt cost taxpayers a single cent. i almost lost it when i saw it. the usps lost a lot, $16 billioe last year. $5 billion the year before. you get the picture. so who back stops all thoses losses? the u.s. treasury does and our taxes finance the treasury. so they can claim all they want that t...

Lot of reporters say, mr. president, these are all good ideas, but some of them you said before. am so of them -- some of them sound great, but you cant get those through congress. republicans wont agree with you. >> now do you finally get it? do you see the nexus of control and power before you? how obamacare came to fruition when no one, including its enforcers, even wanted it? because the reporters did. there you go, america. the reason for every single bad idea ever, from crippling pensions ...

Destroy and break up uppers and privatize everything they can get their hands on. and theyre doing it by attack workers. and wanting to steal their pensions. theyre circumventing local elections and putting people in place that can say, your voice doesnt count. does it sound like america? you know, beckster, i know youre all uptight about security. youre all uptight about whether the country is listening to peoples conversations. interesting, beck, youre worried about that but you dont want peop...

Acknowledging you have a problem and taking the steps to fix it. the cost goes up the longer you wait. >> a lot of people are pointing to the citys issues with pensions and unions. how does all of this in detroit change the way we should look at public sector jobs? >> part of the issue around pensions in general is the people who paid into the system are now retiring or will be retiring they did everything right. they were told to pay money in. it would be there for the retirement. the failure c...

>> one thing that has been a huge problem for detroit is the negotiating over the pensions and all retiree benefits. this is something you have been negotiating with your own unions. are pensions and unions still viable in the modern economy? >> you know, i think that theres a change that needs to take place. we can no longer afford the same thing that we did and these contracts and promises that were made years and decades ago are all coming home to cities like us now. when we negotiate and we ...

The ute tomakees have ruled the city, theres been a corrupt, cozy relationship, and were seeing that rome has fallen and we have to let it fail. >> now, mark, you say what? bail enemy out? -- bail them out? >> if agree theres absolutely been a system of corruption in detroit and that shouldnt be forgivable. but the assistants that should be going to detroit, and i think anybody, whether youre a democrat or republican, if you live in the state of michigan, have to realize these are people who hav...

Municipal bonds. theyre not backstopping the pensions. when a big company goes under, we have this federal agency that guarantees pensions. it says, you know, youre not going to get 100 cents on the dollar but maybe 50, 60 cents. someone will pay that out. what youre seeing now in detroit, which is damaging, is all these retired workers, their income is going to go to zero. what does that do to the local housing market and consumer businesses there? so i think the thing they should be looking at...