Oh, yes, we stole the workers' wages
(and after all, pensions are part of a workers daily wages, the payment is just deferred) which "were steered elsewhere by the company"* while management salaries ballooned, golden parachutes opened and the private equity fund owners sucked out all the liquid assets in exchange for debt instruments. Make it all legal your Honor, pretty please! We'll give you a Twinkie
*quoted from Gregory Rayburn, Hostess's chief executive officer.
Ain't the first time, oh, and when a company's owners suck company and the the pension fund dry and there is nothing that can be done about it, what lawyers refer to as betrayal without remedy. Now guess who gets to pick up the bill (while the owners and bankers get to walk away their pockets bulging) (via the federal gov't's pension insurance corporation and increased welfare payments to the ex-pension holders who might get a third or less of their promised pensions) - the stupid suckers that let the financiers and bankers pull these stunts without penalty or recompense - you and me, the stupids. And won't be the last time either!
Originally Posted by JayJay76
The CEO immediately takes 11 Twinkies for himself.
He then turns to the Teabagger and says, "Watch our for that union guy- he wants part of your Twinkie."
Oh, yeah, Baby!