Swindlers have done enough pension killing

I am responding to the recent letter, "Editorial on target on pension reform," (Jan. 16).

The writer suggests that the solution lies in going to Hartford or Greenwich to ask the best actuaries and financial wizards from the "too big to fail" banks and insurance companies, that played a role in the financial crisis, for help. I might point out that these are the same folks who have for years been quietly advising companies on how to siphon billions from their pension plans and use loopholes in the bankruptcy laws to walk away from their underfunded pension plans. And yes, leaving the "federal government" (PBGC) to pick up the "sand."

The real culprits in today's retirement mess are not only the self-serving politicians who passed the buck to future generations but also the consulting firms, lobbyists and investment banks, from Greenwich or wherever, that conned local governments into investing taxpayer-funded pensions into risky, toxic investments, as well as those states and corporations that used pension plans as convenient piggy banks.

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