Pelley's Reporter's Notebook
April 23, 2009 12:52 PM
Energy produced from coal powers millions of homes and businesses in America, but with devastating enviornmental results. The push is on to reduce emissions, but the question is how long will it take?
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Was it because I explained how the government regulated the traditional defined benefit pension plans out of business? Was it because I explained corporations have to pay insurance premiums to the Pension Benefit Guarantee Corp, a government entity? And that those insurance payments are the same for plans that are over funded as those that are underfunded. Was it because I explained that the typical loss for a defined benefit pension plan (California's is down $80+ billion) would have bankrupted many corporations? Was it because I explained how I wanted to develop a business to advise participants in 401k plans, only to learn that I would be subject to law suits should people temporarily lose money? And that it is this liability that stops companies from providing guidance, or hiring experts to do so?
What is going on at 60 Minutes and what is their agenda?