More Bad News

Nortel employees and ex-employees have been sent letters informing them that they are now considered creditors. This appears to be a head's up that their pensions are toast.

If this country were run for the good of the people, rather than the good of the rich and the corporations the rich use to get richer, then there would be some effective protection for corporate pensions. It's bad enough that virtually noone outside the civil service gets pensions anymore; now those few remaining holdouts are starting to default.

Update

###