Waaaagh!

A Perfect Example

Last year, the Pension Benefit Guaranty Corp shelled out $2.9 billion to meet the benefit plans for 59,0000 US Airways employees that the company said it wasn't going to fund. That PBGC entity is a federal corporation created 30 years ago to insure the benefits of 44m Americans - and every participating company pays a little bit of money into it to safeguard against the horrible day when things just go so awry that they cant meet their debts to their workers.

Ok - that's a big chunk of change... but fine... if the bankruptcy judge felt it was what was needed for US Airways to be able to survive - ok. I can see how that might be allowed.

Then it turns out that last year US Airways had a $303m profit - and was (until this morning) offering $10b (including $5b in CASH) for Delta.

So I wonder... how is this different from the guy who says 'oh gosh, hit by a car, i can never walk again' and is filmed running in the NYC Marathon? Isn't this insurance fraud writ large? Shouldn't people go to jail for this? Lots of people? PMITA 'watch your cornhole buddy' jail?

Here's to hoping every one of them (their kids, pets, and friends) dies in a fire.