PBGC on The Last Word

[Democrats_win]

PBGC is the government's Pension Benefit Guarantee Corporation.

It takes care of pension plans after a company goes bankrupt or Mitt's Bain rips off the employees.

The narrator of The Last Word (Lawrence O'Donnell) did an excellent job of explaining how Obama's appointee to this agency has gone after American Airlines for trying to rip off their employees by going bankrupt--he put a lean on their assets!

O'Donnell also explained that Mitt would not appoint someone to help employees from being ripped off by these crooks because Mitt's Bain would be doing the ones ripping them off. What an amazing story on this MSNBC program!

[montanacowboy]

1. Yes, he did an amazing job explaining this

Bain Bain Bain, always at the crux of something like this

AA is paying Bain $14 million a month to be able to screw the pension plan of the airlines employees by going bankrupt

And AA took OUT $91 million from the pension fund funding

Mitt Romney's Bain......Mitt Romney, the Lizard Person

[think]

3. Great segment! The Pension Benefit Guarantee Corp. guy is a hero!

Slapping a lean on AA's overseas holdings not included in the bankruptcy was an awesome move. Kudos to Obama's appointment to that agency, director Josh Gotbaum for protecting the pensions of American Airlines employees!

Here is another brief article I found for people that missed Lawrence's show:

http://blogs.star-telegram.com/sky_talk/2012/01/pbgc-files-liens-on-american-assets-as-the-carrier-didnt-make-its-full-pension-payment-in-jan.html

And here is the agency:

http://www.pbgc.gov/

[nevergiveup]

2. That was eye-opening, to say the least.

Who would have thunk Bain was in the middle of this ?

[tabatha]

4. It would make an excellent ad.

[karynnj]

5. What a clear, well explained segment - and devastating for Romney

It is really something that it is Bain that is doing what it does with American Airlines, a prominent company that everybody knows. The had of the PBGC seemed like he really is great - hope he succeeds.