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the US needs a postal savings bank but it also needs a federal pension fund so that at least money sunk into these destructive enterprises is not risking retirees savings.
by rootless2 on Mon Jun 7th, 2010 at 04:11:55 PM EST
[ Parent ]
I don't see how a federal federal pension fund is superior to current income financing. After all it's not like a society as a whole can save.
by generic on Mon Jun 7th, 2010 at 04:39:26 PM EST
[ Parent ]
Currently, there are billions and billions of pensions from unions, public sector workers, and even a few others, that are funneled into worthless junk by financial advisors.

For example, the California public workers pension fund just threw away $500M by participating in an insanely leveraged scheme to empty one of Manhattan's last middle class housing complexes and turn it into luxury housing.

by rootless2 on Mon Jun 7th, 2010 at 08:27:00 PM EST
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