Tag Archives: chrysler

Stacy Summary: The word formerly known as “pension” is big news today as it looks increasingly unlikely that any non-oligarchic Americans will receive any of their previously contractually obliged retirement benefits.

• US property prices down 29 pc, continue to tumble at fastest rate on record

• Obama considers bankruptcy best option for GM & Chrysler (or, how workers are about to find out that their contracts are not inviolable)

• Exxon pension fund files suit against Northern Trust alleging “reckless, massive losses”

• Lord Mandelson’s plans to privatize Royal Mail condemned as ‘vague’

• British taxpayers to bail out MPs’ ‘gold plated’ pension plans

• Nigeria is worst performing stock market as loans to speculators go bad

Afternoon updates:

• Rioters loot offices of Royal Bank of Scotland

• Treasury toxic asset disposal program available to pre-ordained financial oligarchs