2016 Postmortem
In reply to the discussion: Why I DON'T support Bernie for President [View all]Babel_17
(5,400 posts)Though it also should be said that lots of pensions weren't run as well as they should have been. We're still seeing the effect of this as our nation's pension insurer is being compelled to allow some pensions to basically dissolve.
The financial meltdown was so severe that pension funds had to eat their seed money. No matter how strongly the stock market rebounded became irrelevant as the pensions had entered a death spiral. In order to meet obligations they had to sell of assets that were horribly underpriced. By the time the market rebounded their income producing assets couldn't sustain the payments due, so more assets had to be sold. Rinse, lather, repeat. This is what Detroit's pensions got caught up in.
Senator Sander knows this and is committed to not letting it happen again, and to bolster and expand the safety net, including Social Security. To her credit HRC is also committed to bolstering Social Security but I see Senator Sanders as more vigorously arguing to do what that entails.