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October 20, 2010
Armageddon for the Dems?
Topics: Political News and commentariesIt could very well soon be Armageddon for the Dems, and no it doesn't have anything to do with what happens on November 2nd - it's got to do with what the Democrats are hiding - the accounting rules developed to shore up underfunded union pensions and the dates when those union companies affected would have to assume their liabilities are about to change on December 15:
[...] FASB’s new rule could effectively wipe out the paper worth of many companies, especially in the trucking and construction industries. Once banks and creditors are aware of these staggering pension liabilities, it will make it nearly impossible for union businesses to get loans, credit lines or bonding.
Posted by Richard at October 20, 2010 11:12 AM
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