He and others of my acquaintance have spent a lot of time flapping their jaws about pension fund leverage. I fail to see how the demise of Glass Stegal will in anyway increase any pension fund leverage real or imagined!
I date this pension fund leverage business to the mid-1970's when a couple of Serbian brothers who were worthies in the USWA started pitching this idea to anyone who would listen. They are both former Steelworkers now, having seen their mills close in the mid-1980's. One of these two old pals of mine was teaching and coaching high school football the last time I heard anything of them.
Meanwhile *your* bill S. 625 is lurking out there.
Tom
Doug Henwood wrote:
> Max Sawicky wrote:
>
> >Zippo, and I don't mean the lighter.
> >
> >mbs
> >
> >
> >----- Original Message -----
> >From: Tom Lehman <TLEHMAN at lor.net>
> >To: <lbo-talk at lists.panix.com>
> >Sent: Saturday, November 06, 1999 11:03 AM
> >Subject: Re: glass steagall
> >
> >
> > > Here's a question I have to ask, what did organized labor gain out of the
> > > demise of Glass Stegal? Any leverage? Any logs rolled in our favor? A
> > > couple of dog catcher jobs for somebodies relatives? Anything!?
>
> Don't forget the possibility that the AFL-CIO gets promises that if
> they go along with whatever abominable administration policy they go
> along with then the leadership won't get indicted. Back the IMF
> replenishment & Trumka stays a free man! No investigation of UNITE!'s
> massive cash hoard, payments that should have gone to the members but
> stays instead in union accounts. Etc.
>
> Doug