Page 848 - Pensions News Today

Illinois, and new jersey where i live. >> well, new jersey and illinois have been at it for a long time in terms of underfunding their pensions and not having enough money to invest in infrastructure, social services. california really in the decade of the 2000s got hit by the dot com bust, got hit by the housing bust. clearly. now is getting hit by the fact that youre seeing net emigration from california. when people leave, there is less money to pay for social services. again, the people left...

You on "60 minutes" in 2010 thinking, wait a minute. what is she smoking? bonds, municipal bonds are solid gold and yet, you were predicting? >> isnt it funny that people focused on the municipal bond part of the equation, but they didnt focus on their own issues. this is not all people. cause most people got the message that i was trying to convey, which is look, if we dont do something, our social services are going to erode around us and people are going to move to stronger districts with low...

Always been where is -- how is the u.s. going to recover? and its so great its so resilient. get deeper and deeper into these state issues and realize there are a lot of different factors going on. municipal bonds being one, pensions being another. so many issues. so my focus was never really -- has never been on municipal bonds, all of this plays into it, and very much, im still committed on all this. and its playing out. >> she called it. >> she also called housing in 2005. >> and for that rea...

And thats why we need to look at the parent company, the real culprit, of peabody. >> so youre a united states senator and this is something thats happening through the judicial branch. is there something you can do in your role as united states senator? what can be done here? >> i would sure think so. back in 2005 is the last time that i could find, my staff has been researching as quickly as possible, that they really revisited the bankruptcy laws. at that time it was to guarantee the pensions...

And thats why we need to look at the parent company, the real culprit of peabody. >> youre a united states senator, this is something thats happening through the judicial branch. is there something you can do in your role as united states senator? what can be done here? >> i would sure think so. you know, back in 2005, is the last time i could find, my staff has been researching this as quickly as possible, that they really revisited the bankruptcy laws. and at that time, it was to guarantee the...

Billion and turning entitle a voluntary trust that would be funded up to just $300 million in royalty payments. so unless the united mine workers of america can win an appeal, these workers, who already opted for lower wages and fewer vacation days, working with the toxic impurities in a coal mine, as a trade-off to fund those pensions and health benefits, theyll be out of luck. as you can imagine, the judges decision has sparked a considerable amount of outrage like you saw at the top of the se...

By while somebody takes away what my daddy built! you know, this is nothing but a scheme. they tried to bam booze el us, they tried to rob us, they tried to steal from us. peabody has got thousand dollar an hour attorneys and they have got a dollar an hour morals. >> united states senator joe manchin is going to join me in a moment to discuss an outrageous story from his home state of west virginia. it is the story of a big coal mining company called patriot coal, which has basically schemed to ...

By while somebody takes away what my daddy built! this is nothing but a scheme! theyre trying to bamboozle us, they tried to rob us, they tried to steal from us! peabodys got thousand-dollar-an-hour attorneys! and they got a dollar-an-hour morals. >> united states senator joe manchin is going to join me in a moment to discuss an outrageous story from his home state of west virginia. it is the story of a big coal mining company called patriot coal, which is basically schemed to cheat thousands of...

People like my father built this. and im not going to stand idly by while somebody takes away what my daddy built! you know, this is nothing but a scheme. they tried to bamboozle us, they tried to rob us, they tried to steal from us. peabody has got thousand dollar an hour attorneys and they have got a dollar an hour morals. >> united states senator joe manchin is going to join me in a moment to discuss an outrageous story from his home state of west virginia. it is the story of a big coal minin...

90% of those people that peabody is paying the retirement for never worked for peabody. >> right. >> thats where the travesty is. and thats why we need to look at the parent company, the real culprit, of peabody. >> so youre a united states senator and this is something thats happening through the judicial branch. is there something you can do in your role as united states senator? what can be done here? >> i would sure think so. back in 2005 is the last time that i could find, my staff has been...