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[–] Gorillion 0 points 1 point (+1|-0) ago 

Isn't that Bane Capital's MO? Mitt Romney was directly involved in some incredibly huge employee pension theft thru a similar process.

The employee pension is the target, always.

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[–] Triple_Agent ago 

The smell of cash on the balance sheet... The Nose knows.

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[–] Goathole 0 points 1 point (+1|-0) ago 

Yeah, well let's just park our moral outrage for a minute and try to be rational.

The article says something about In recent years some in Congress have sought to change bankruptcy laws...... < that tells me all I need to know.

Let's get rid of bankruptcy laws! Let's hold the borrower responsible for the debts they accrue. What's that you say? Oh we can't go back to the days of debter's prisons!

Let's apply it to the individual too. Can't make your car payment? Too bad, someone sold you that vehicle and he/she/it needs to recover the cost. It was SOLD to you. You promised to pay for it. Can't make your house payments? Too bad. You promised to pay for that house.

Bankruptcy, while it has some advantages as in increased sales because the safety net, helps the economy, it also damns it all to hell.

Source: My property values plummeted when you people "lost" your homes during the recession. You walked away. The auto market nearly collapsed when your cars were being repossessed. I KNOW that many of those people could have made their payments if forced but the lure of taking a hit for a few years AND PROFITING FROM THE NEXT HOME was too much.

But yeah! Let's get rid of bankruptcy laws! But let's be fair about it, it needs to apply to everyone. It doesn't sound like such a good idea anymore does it? Well to fucking dirtbags anyway. Are you a fucking dirtbag? Lol! I can guess the answer on my own.

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[–] Seventh_Jim ago  (edited ago)

Barring ursury would solve the problem.

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[–] prairie ago  (edited ago)

Usury isn't the problem, it's the legal preventions of the market from properly pricing a bank's IOUs. If I do work but let someone else reap the rewards and then pay me back later, there's nothing wrong with me charging them a little more. Just as if I'm a business owner, I'd like to be loaned some capital that I repay for more later, because I can turn it into even more than that by investing in capital and creating value now.

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[–] Goathole ago 

You won't need to when the family sees degenerate gambler uncle Mike chained to a rock beating stones to gravel in the quarry. It's then that people will think to themselves, do I really need an iPhone X? I have an iPhone 8 already and it's pretty close to that and paid for.

There need to be repercussions for irresponsibility and examples set. Then we can proceed as a civilization.

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[–] shawnfromnh69 0 points 2 points (+2|-0) ago 

No way Sun when they sold then leased the grocery stores were not the same people that owned the other company the leased from so they made money on the sale, then on the lease, then committed tax fraud by marking it as an expense when it was just a shell company they owned buying and leasing their own stores to themselves. A huge fraud and they and the court screwed the original stockholder and the employees. This company is just greed personified and run and owned by a bunch of sociopaths. The writing on the wall is clear as day for me because I just put myself in their place and think like a scam artist "Make believe" and it's so obvious. Any real investigation would find this entire mess worthy of prison for all involved at Sun.

[–] [deleted] 0 points 2 points (+2|-0) ago  (edited ago)

[Deleted]

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[–] shawnfromnh69 ago 

Dissertation nothing, that is college words. I just saw a scam and explained it to the others reading comments I am a regular guy that often sees bullshit but doesn't allow it to be buried.

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[–] ForTheUltimate 0 points 3 points (+3|-0) ago  (edited ago)

employee pensions n shiet

Net pay or gtfo faggot

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[–] derram 0 points 3 points (+3|-0) ago 

https://files.catbox.moe/1lan40.png :

As a grocery chain is dismantled, investors recover their money. Worker pensions are short millions. - The Washington Post

'These investors got back almost all of the money they sank into Marsh, according to a cash-flow statement obtained by The Washington Post. '

'The inspiration for Sun Capital, according to Leder, arose from a visit to Romney’s private-equity firm, Bain Capital. '

'Once the Marsh Supermarkets chain began to falter a few years ago, its owner, a private-equity firm, began selling off the vast retail empire, piece by piece. '

'First are the investors who turned over money to Sun Capital to invest in buying and selling companies such as Marsh Supermarkets. '

'By most accounts, Sun’s reign at Marsh Supermarkets got off to a good start. '


This has been an automated message.

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[–] Texaswolf1 0 points 5 points (+5|-0) ago 

Can you imagine busting your ass your entire life, working hard, playing by the rules, being a good citizen...and then having it all taken away? While that POS snorts your pension off a whore's ass in the Hamptons? Outrageous. Hyper-Capitalism at its finest.

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[–] prairie 0 points 1 point (+1|-0) ago 

Why would people even trust something so distant? It's fantasy.

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[–] AnthraxAlex 1 point 12 points (+13|-1) ago  (edited ago)

If you as an employee accept a pension as a collateral form of payment you are a moron. If i was ever offered one during salary negotiations i would probably walk out the door right then and there because only jew shysters would ever attempt to pull that kind of scam on a person.

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[–] prairie ago 

Treat the pension as purely a nice thing if it ever materializes, as you would with government social security payments when you get old.

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[–] shawnfromnh69 0 points 2 points (+2|-0) ago 

I worked at Polyclad LLC and they got the entire factory together and offered us a deal to own the company stock and they would match our investment. Well 2 years later they opened plants in Mexico and China and closed our plants and everyone was forced by the economy to take their investment but since it wasn't 5 years yet "planned" they didn't match our contribution. Basically they scammed their own employees to fund the factory then dumped them for super cheap labor and less environmental and safety regulations and then said fuck everyone by closing the US plants. I now do not trust promises by any corporation that are not immediately implemented since they all are full of shit. Like Walmart offers all this training which is the same shit over and over and then they since it's done in house deduct all the training time off of taxes for making us sit in a room and falling asleep watching insanely boring video's with extremely boring people in the video's. Then they start replacing employees with contract labor and scanning machines. It's all bullshit hidden behind a transparent curtain so they train instead of giving out raises to deserving people.

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[–] downton-stabby 0 points 3 points (+3|-0) ago 

Same thing can happen to your 401k. Don't think your govt will take your money? Guess they aren't trying to replace you with illegals either then.

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[–] AnthraxAlex 0 points 1 point (+1|-0) ago 

yep same shit can happen with it 401k is just as worthless and i treat it as such i dont count it as viable compensation for labor.

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[–] admin2 0 points 6 points (+6|-0) ago 

Not all pensions are grossly UNFUNDED to fed minimums, but all the ones that donate to democrats primarily are UNDERFUNDED, and the fed gov democrats keep passing laws to FUND UNFUNDED PENSIONS by other producing americans!

Some states pensions are astoundingly unfunded.

UNFUNDED is not a immoral in THIS case because the missing money was never there. The missing money was only in socialism land.

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[–] shawnfromnh69 0 points 2 points (+2|-0) ago 

The entire state of California is totally underfunded if funded at all. Hell the insurer of the pensions should mandate that there is at least 75% of the funds in a trust or the insurance company will cancel their policy report the shortfall and then they are required to fund the pensions 100% immediately and if they can't then the people in charge at all levels are brought into a court where either they have a plan in writing or their personal assets are confiscated like real estate, stocks, bonds, any thing of value and they will pay for the pension out of their own pocket and all bonuses they recieve go straight into the pension even if they leave the company or government position.