How Hedge Fund Billionaires Loot Worker Pensions
Hedge funds use bankruptcy to wash off worker pensions throwing the burden on government pension insurance Government pension insurance plans are in crisis because of this tactic
Meanwhile, many economists of influence praise them because, as they are great for shareholders, we should ignore the harm they do to workers.
The more workers suffer economically, the more they support populists like Trump, the more he supports leaving the hedge funds unregulated
Offsite Linkby Anonymous | reply 34 | June 21, 2020 8:23 AM
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This is important to familiarize yourself with.
Because the hedges have bought up all the media now so this is the best coverage you’re going to get.
by Anonymous | reply 1 | June 16, 2020 6:09 PM
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Which is why hedge fund managers and their families should be regularly kidnapped, valuables damaged or taken, and other ways to keep them on their greedy, sociopathic little toes.
by Anonymous | reply 2 | June 16, 2020 6:14 PM
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They want us to be plugged into machines like the matrix. We are just livestock to them.
by Anonymous | reply 3 | June 16, 2020 6:19 PM
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This is terrible.
But all the news networks are owned by hedge funds now it will probably be buried.
But this is HUGE!
by Anonymous | reply 4 | June 16, 2020 6:23 PM
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Watch your 401k and pension.
Both have been put on the block.
by Anonymous | reply 5 | June 16, 2020 6:46 PM
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Daddy needs a new mega-yacht
by Anonymous | reply 6 | June 16, 2020 6:46 PM
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And a new island in the Caribbean.
by Anonymous | reply 7 | June 16, 2020 7:05 PM
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It’s a free-for-all these days.
by Anonymous | reply 9 | June 17, 2020 4:59 AM
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Can you imagine the looting going on in washing rob as we speak? They will be set for life.
But god forbid someone loot a target that has been profiting off those communities for decades.
by Anonymous | reply 10 | June 17, 2020 5:44 PM
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Fight back or become their serfs.
by Anonymous | reply 12 | June 17, 2020 5:50 PM
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Poor Toys R us.
Last Christmas just wasn’t the same without it.
by Anonymous | reply 13 | June 17, 2020 5:53 PM
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This is running America.
She is so bombed out these days.
by Anonymous | reply 14 | June 17, 2020 6:50 PM
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From K-Mart to Neimans (owned by Ares Management, who also owns The 99 Cent Only Store), hedge funds are sucking the country dry and nobody is doing anything to stop it. This is not capitalism, it is piracy.
by Anonymous | reply 16 | June 17, 2020 7:15 PM
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And no one notices their usual brands have gone down the toilet?
by Anonymous | reply 18 | June 17, 2020 7:30 PM
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My god this is terrible and we must get the word out.
by Anonymous | reply 19 | June 17, 2020 7:58 PM
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These people have no souls. How can they sleep at night?
Completely unrelated to hedge funds, I lived in Houston when the Enron scandal went down. It was horrible. So many people who had worked hard literally losing everything over night. Businesses that depended on Enron (restaurants, catering) folding. Employees lost their pension plans, too, and after several years they only received compensation of about $3, 000 each. Maybe they won more compensation later, they certainly deserved it.
by Anonymous | reply 20 | June 17, 2020 8:15 PM
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Thieves!
This is why the country is filled with abandoned buildings and factories.
by Anonymous | reply 21 | June 17, 2020 8:55 PM
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This is all leading to a Purge. This can’t continue forever.
by Anonymous | reply 23 | June 19, 2020 3:51 PM
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There aren't that many private defined benefit pension plans (the kind the government, through PBGC, insures) around anymore (other than the legacy ones.) Pretty much all major non-government employers switched to 401(k)s or ESOPs.
by Anonymous | reply 24 | June 19, 2020 5:16 PM
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And these are the same people who claim to be philanthropists and who give back a pittance to society with their lavish ‘charity events’.
by Anonymous | reply 25 | June 19, 2020 5:56 PM
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R25 *Tax Write-off events
by Anonymous | reply 26 | June 19, 2020 5:59 PM
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They used to get away with this crap but people are waking up.
by Anonymous | reply 27 | June 19, 2020 6:04 PM
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This all came out years ago with Mitt Romney and Bain Capital, which impoverished many workers in the companies it took over and looted. These people are disgusting and contribute nothing to the economy.
by Anonymous | reply 28 | June 19, 2020 7:58 PM
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Is there a billionaire on the planet who has morals?
by Anonymous | reply 29 | June 19, 2020 8:04 PM
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Just the idea of billionaire is obscene
by Anonymous | reply 33 | June 21, 2020 7:54 AM
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We used to have legislation that blocked private ownership of media outlets, but those were disassembled from the 90s onward. We used to have a powerful Security and Exchange Commission whose job it was to keep news organizations separate from profit-driven enterprises.
That is all gone now. Until we revive such "quaint" notions, this type of society is all that's available.
by Anonymous | reply 34 | June 21, 2020 8:23 AM
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