If you want to seriously examine underfunded pension liabilities, look no further than the huge hole the the Federal government’s PBGC, (Pension Fund Guaranty Corp),agency is sinking into. Liabilities of American corporate pension plans are running into the hundreds of billions of promised benefit shortages and if they did a true mark at market accounting, instead of the actuarial hanky-panky, a big number of them would be insolvent.Bigger than Germany’s obligations and even bigger that the FDIC.
And implying racism, because I categorize a corporate theory as “Anglo-American” borders on the paranoid. In fact, you probably used the below the belt racism slur because of my screen name, “Ravinos”, assuming I was non-Anglo, but of Latin/Hispanic or Southern Europe/Mediterranean descent. I assure you, there’s a good chance I’m more “Anglo”, that you are, whatever that counts for in your world, as my father was born in Britain, my grandmother in Scotland and as a result hold dual citizenship, U.S.A./U.K.
