Stimulus & Bailout Watch Thread

Ethnic Vagina Finder

The Great Paper Chaser
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North Jersey but I miss Cali :sadcam:

I misspoke. It’s not funded in the sense of social security where the tax is static. Each state is different.

high salaries and double dipping is the main culprit. Pensions are suppose to help decrease tax liabilities over time via sound investing but obvious Mass don’t know what they’re doing and/or entrusted the wrong people to manage their fund.


Also, a lot of pension had funds invested in mortgage backed securities so I imagine billions were lost, which required new funds to be raised :manny:
 

the cac mamba

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I misspoke. It’s not funded in the sense of social security where the tax is static. Each state is different.

high salaries and double dipping is the main culprit. Pensions are suppose to help decrease tax liabilities over time via sound investing but obvious Mass don’t know what they’re doing and/or entrusted the wrong people to manage their fund.


Also, a lot of pension had funds invested in mortgage backed securities so I imagine billions were lost, which required new funds to be raised :manny:
just for the record, im not against the concept of pensions. i dont have a "problem" with pensions

but you cant look at NY, NJ, CT, IL and pretend that its a functioning system in those places. whatever the reason, it doesnt work :yeshrug:
 

Ethnic Vagina Finder

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North Jersey but I miss Cali :sadcam:
just for the record, im not against the concept of pensions. i dont have a "problem" with pensions

but you cant look at NY, NJ, CT, IL and pretend that its a functioning system in those places. whatever the reason, it doesnt work :yeshrug:

the system as defined is not the problem. It’s the people in charge of managing them. It’s one piece to a bigger problem.
 
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