PBGC May be Close to Broke?

(via Ezra) Bad News: Last year the Pension Benefit Guaranty Coorporation transferred $64 BILLION of its assets from bonds to stocks ... and then the market crashed. If you'll remember, the PBGC is the gov't entity that takes over all the benefit packages that get dumped on the feds by companies like GM and United when they go into bankruptcy and can't pay their workers the benefit that they promised.