On Tue, 29 Jan 2013 01:20:25 -0500, Rob McEwen said:
The market will eventually sort this out... and in many cases already has! Meanwhile, Amtrack and the Post Office show no signs of ever making it without their MASSIVE taxpayer subsidies.
I can't speak to Amtrack, but a large part of the Post Office's current difficulties is that Congress forced them to pre-fund pensions - which is nothing unusual. Most places are required to pay in now for their current employees so their pensions will be funded when they retire. What's different about the Post Office is that they're required to pre-fund for 75 years. Yes, you read that right - they need to pay in *now* for the pension fund of mail carriers who won't even be born for another decade.
Education continues to not know where billions of dollars goes each year... Yet, in contrast, Enron execs in are jail and Enron is no longer in existence
So where are all the arrests and convictions for the mortgage games and other Wall Street malfeasance that led to the financial crisis of 2008? Seems that was a tad more egregious than anything Enron did, so there should have been more arrests and convictions?