it just STOPPED funding the pension funuds ENTIRELY. THAT is why its pension funds are in such sad shape.

The 1 percent and their misguided allies have been gung ho to undo the New deal since it was enacted. I remember a history teacher in college expressing how irate her dad got when he talked about this bill.

I knew a lot about this, part through being involved myself and knowing a few high up financial types in my state. It's outright thievery, it's outright looting promised money, promised to average people, so wealthy people can get wealthier. That makes me irate.

One wish of mine would be that more everyday people would really study what's going on, would engage in critical thinking, and not depend on self serving sound bytes.

I am glad Matt Taibbi is tackling issues like this.

it is pure thievery. Notice how they consistently leave workers high and dry saying simply, they don't have the money, while they throw billions at the banks, who are, of course, richer than ever.

surveillance scandal.

Firemen? Police officers? Judges? Court clerks? City and County hospital workers? Many of them work for less than they could get for private firms. Others risk their lives to protect the public. And then they get cheated. The lack of morality is overwhelming. It's like being in a room filled with angry skunks and rotten eggs. How can people do these things to other people?

Do they abuse animals and children in their off-hours?

Human refuse. That's what these hedgefund managers are.

Less useful than rats.

The right has been promoting cruelty and intolerance through hate radio for decades now. Just listen to them, their words. Like their 20th Century Nazi counterparts, they always focus on a convenient scapegoat. Then they hammer the talking points until their minions sound like parrots.

Fascists cannot exist is an environment free from cruelty and intolerance.

it is not complicated - the politicians bought votes by promising generous pension benefits to public employee unions (the unions are a huge political force in RI). Once in office they did not adequately fund the pensions because they did not want to raise taxes. Now the local governments find themselves with pension obligations they cannot pay and tax payers unwilling to pay double digit tax increases every year.

pensions and politicians have been a toxic combination for a very long time.

"In fact, Baker said, had public funds during the crash years simply earned modest returns equal to 30-year Treasury bonds, then public-pension assets would be $850 billion richer than they were two years after the crash." page 3

Why do we continue to allow these funds to be invested in the stock market? There are much safer investments out there that would basically guarantee a steady return. The stock market is too volatile for us to invest our pension funds in it. Haven't we learned a lesson here?

Funny that we never hear this on the regular media. They are united in their misinformation message.

anti-worker script for a long time, since Reagan, at least.

Looting pensions and protecting Monsanto.