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re: Re It's "immoral" to strategically default on one's mortgage
Posted on 12/14/11 at 12:22 pm to Poodlebrain
Posted on 12/14/11 at 12:22 pm to Poodlebrain
quote:
Going back to American Airlines and its bankruptcy, the question that I ask myself is what causes the least harm? Running American Airlines into the ground does not benefit anyone. It just delays the pain. If the company can be saved, then the damage to all parties can be reduced. The issue is how to spread the pain equitably.
One thing not touched on in the corporate BR scenario is pension obligations, which often are transferred to the PBGC, which is funded by companies with ongoing pension plans. The non-BR employers will have to pay higher contributions to the PBGC in the future and the PBGC is underfunded as is. Waiting for it to ask for a bailout in the future.
1
Posted on 12/14/11 at 12:24 pm to tirebiter
quote:
One thing not touched on in the corporate BR scenario is pension obligations, which often are transferred to the PBGC, which is funded by companies with ongoing pension plans. The non-BR employers will have to pay higher contributions to the PBGC in the future and the PBGC is underfunded as is. Waiting for it to ask for a bailout in the future.
Presumably they are paying current on their premiums to the PBCG?
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