Jan 22, 2011

http://news.mobile.msn.com/en-us/articles.aspx?afid=1&aid=41188877

This is what happens when the states are allowed to "borrow" from the pension plan funds. They take the money and leave an IOU in the box. Then when they go bankrupt, they don't have to pay the pensions.

Corporations have been doing this for years. There is nothing new under the sun.