And this is also, BTW, why pensions for civil servants were originally created — to give civil servants an incentive to stay on the straight and narrow, because if they got caught grifting, they’d at the very least get fired and lose their pension. The results for the federal government after they switched from pensions to Social Security for federal workers should be enlightening there — Wall Street’s regulators are the same people as Wall Street’s fat cats, because there’s a revolving door between them, because there’s no longer a pension to give regulators an incentive to stay employed by the Federal government and stay on the straight and narrow.
And that, in the end, is why the Koch Brothers are trying so hard to eliminate public employee pensions at the local and state levels — having utterly corrupted the Federal bureaucracy, now they want to do the same at the state and local level. And the majority of the American public seems willing to go along out of spite. Siiiiiiigh… WASF.
-Badtux the Waddling Penguin
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