"Cub Driver" wrote in message
news
On 13 May 2005 05:48:16 -0700, wrote:

It's the Pension Benefit Guaranty Corporation and it is still
technically not taxpayer-funded.

Neither were the savings & loan associations until the bailout came
due.

The PBGC overhang is nearly double what it cost us to straighten out
the S&Ls.

And about 1/4th what it's going to cost to fund the Federal Employee
retirements.

If you think UAL has a flaky employment/retirement arrangement, just wait
for the Civil Service fiasco to hit the wall.