[quote=bearishgurl]
nsr, I don’t “wisecrack” about things like this. It’s actually the law.
You can join your “friends,” pri_dk and sdr in their “legislation-writing sessions.”
I’ll be standing by to proofread or assist in any way I can :=}
[/quote]
Your prior comment.
[quote=bearishgurl]
Lol, CAR … I’m still waiting for all these Piggs who think the public sector is paid too much to go thru the application process themselves and then sign all the releases necessary to open up their private lives and credit reports to the PTB so that they, too, can get “selected” to make the BIG BUCKS and eventually become “vested” to collect an unconscionable pension!
Any takers???
Ah …. I didn’t think so … :=![/quote]
You can’t have it both ways. In one post the defense is the unconscionable pensions aren’t available to new hires. In others, it’s come work for the government to get that pension. They are just red herrings. The problem is like social security and the pig in the snake.
In other topics, CAR and others rail against the evil investment bankers and the option ARMs mortgages with the false promises luring buyers in creating the mess. Never mind the similarities to the investment bankers at CalPERs telling the State & Local governments and Unions they can have the bigger payouts at ‘no cost’. Well, looks like the option part is gone and now the big spikes are coming.
Things I do know, in the private sector, if my employees felt half as maligned as you come across, I’d have a 30%+ annual turnover. People like Flu, I wouldn’t be able to keep on staff no matter how much gold I threw at him. I know, I’ve run plenty of death march projects as a consultant.
When those same maligned people don’t move on, the reason typically boils down to one or combination of the following three:
1. They are paid substantially above market or have golden equity handcuffs
2. Their skills are dated and not readily transferable (this isn’t a subset of 1, this is low employability for their skillset which is much more rare than they’re paid more than their skillset is now paying)
3. They’re close to vesting in some retirement plan.
The legality or cost of conversion of pensions keeps getting thrown up. I get it may be more expensive, but we will all be better off if it is paid up front and is portable. It removes #3 from the equation.
Laws can change. Bankruptcy happens. Look at Vallejo and Stockton. San Jose. CalPERs strong armed Vallejo. The retirement benefits were largely protected. All the rest of the city services where largely stripped. Is that what the city government workers are fighting to get? Their pension at the cost of the entire city?
As for the thread being yet another prop for SDR to rant against the government, well, why is it so easy to find targets? Every week we turn on the news, the altruistic teachers stands accused of 23 counts of child molestation, the cops investigated over a year. Or the city cops are on video beating a homeless man to death. Or the firefighters have a lawsuit about feeding dog food to the black firefighter in the station. Or they’re is a hubbub because they took their fire engine to the beach and allowed it to be filmed in a porn film with the coup de grace being they can’t be disciplined because the filming was more than 12 months ago per city contract. Or the cops shotdown Marine in his SUV in front of his kids. Or…
Or…
Or…
