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post #1 of 7 (permalink) Old 06-13-2005, 11:43 AM Thread Starter
 
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Failing pensions exact a human toll

By Dale Russakoff
The Washington Post

Ellen Saracini lost her husband, United Airlines Capt. Victor J. Saracini, when his Flight 175 crashed into the World Trade Center on Sept. 11, 2001. Now she stands to lose more than half of her widow's pension in a very different kind of crash United's default of its $9 billion pension obligations.

The scale of the default, the largest in U.S. history, has until now received more attention than the toll on the lives of the bankrupt airline's 120,000 employees and pensioners. Saracini discussed its impact on her and her two daughters in an interview yesterday, saying she hopes her story will help shift the focus to the laws and policies that allow such defaults.

"My own situation is not a crisis I have my husband's life insurance to keep us secure in our house," she said from her home in Yardley, Pa. "But a lot of other people have real hardship medical costs they won't be able to afford, houses they won't be able to keep. If I can help draw attention to them, I'll do it in a heartbeat."

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post #2 of 7 (permalink) Old 06-13-2005, 12:45 PM
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First off, that is sad!

Second, so how long is it going to be before the govt bails them out of this?




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post #3 of 7 (permalink) Old 06-13-2005, 12:49 PM
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Originally Posted by Gas Man
First off, that is sad!

Second, so how long is it going to be before the govt bails them out of this?

Answer to your question "so how long is it going to be before the govt bails them out of this" is probably a sadder to say never.
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post #4 of 7 (permalink) Old 06-13-2005, 12:54 PM
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Really?




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post #5 of 7 (permalink) Old 06-14-2005, 12:27 AM
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If they take on the air line debt, why not?

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post #6 of 7 (permalink) Old 06-14-2005, 12:35 AM
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If they take on the air line debt, why not?
Well, I don't think that the U.S. Government can go any further into debt! Didn't congress just approve like another 100billion or more for the war in Iraq?

On a different note, I hope all my buddies in the 3RD Infantry Division - 3RD Brigade - 3RD Brigade Troops Battalion (formerly the 317th Engineer Battalion) return safely!
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post #7 of 7 (permalink) Old 06-14-2005, 08:58 AM
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I think they can do whatever they want to do....




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