Quote:
Originally Posted by HUSKER55
well, it seems to me if those people had done the same as Romney they wouldn't be worrying about their pension.
There is a point where people have to take responsibility for themselves.
That pension is yours and I think you can opt out and take your funds and invest else where.
Is that true or not?
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That was my point. When you rely on others to manage your money you may not be happy with your returns. Nothing is guaranteed when it comes to pensions. Ultimately, each and every pensioner has some responsibility for their benefits. They put all their retirement nest eggs in the Delphi basket. That's risky.
For example, if GE were to go belly-up, even the former CEO Jack Welch could lose some of his pension benefits. It probably wouldn't affect him as much as an assembly line worker at GM, but the concept is the same.
I don't have a problem with Mitt making money on the auto industry bailout. Mitt is obviously better connected and more astute then the average pensioner. My point about bringing Mitt into the conversation is that he found a way to benefit from the situation. Many of the pensioners did not find a way to benefit.
I just thought it was ironic that the gov't bails out the auto industry. Mitt Romney invests $5,000 in the auto industry and because of the bailouts he gets back $15 million. And after the bailout by our gov't with our taxpayer money the jobs go to the Chinese. If that isn't ironic then I guess I don't understand irony. It might be logical because that is the only way the company can survive and the gov't eventually gets their money back.
It's unfortunate that the pensioners couldn't have benefited the same way as Romney. I'm not blaming Mitt for being intelligent and connected. I doubt that many people who could have had the opportunity to invest would have turned it down.
Hopefully, this explanation connects the dots for why I made the post and you will understand that my line about U.S. taxpayer bailout money creating jobs in China was tongue-in-cheek. But as the saying goes, "If you have to explain it, it isn't funny."