Tag Archives | Pension

Contracts With Workers Vs. Contracts With Banks


When are contracts ironbound, and when are they optional? Via the Center for Economic & Policy Research, Dean Baker writes:

The debate over public pensions clearly shows the contempt that the elites have for ordinary workers. While elites routinely preach the sanctity of contract when it works to benefit the rich and powerful, they are happy to treat the contracts that provide workers with pensions as worthless scraps of paper.

We see this attitude on display currently in the Detroit bankruptcy proceedings. It is even more clearly on display in efforts by Chicago Mayor Rahm Emanuel to default on the city’s pension obligations.

The basic story in both cases is that the contracts that workers had labored under are being laughed at by the elites because they find it inconvenient to carry through with the terms.

In Detroit, paying for pensions or anything else without outside assistance poses a real problem.

Read the rest
Continue Reading

Italian Man Arrested for Aunt’s Body Found in Freezer

The chilling story of what a man would do to collect 2,000 euros a month pension from his aunt, even if she’s no longer alive. The Telegraph reports:

Reports alleged that Gaetano Adragna, 43, a part-employed computer technician, relied on the pension for most of his rent and living expenses.

When they visited the apartment in Catania, in Sicily, they found her frozen body in a large white freezer.

The scam was revealed when neighbours of Annita Bonnici, 95, a widow of a former general in the Italian army, became suspicious after not seeing her for several months.

Mr Adragna had visited his elderly great-aunt twice a week.

Neighbours said they would often meet him on the stairs leading up to his great-aunt’s flat but that he started to tell contradictory stories about her state of health.

Continues at Telegraph

Read the rest

Continue Reading