> > My question is why the law does not force corporations to
> > bank at least 75% of their pension and health care obligations
> > for retired workers?
>
> Wouldn't the law have to start with the Social Security Administration
> liabilities?
>
Presumably the US state is more durable than an auto company and thereby can
be cut more slack. Corporations othoh come and go and whatever pension and
health care contracts they have entered into with workers should be front
and centre in the presentation of the companies overall debt structure and
should not be classed as an asset. Moreover, the law should be changed so
that workers are the first creditors in line in the case of bankruptcy. Now
that would be some leverage.