Democrats in the Senate on Thursday held a recess hearing covering a taxpayer bailout of union pensions and a plan to seize private 401(k) plans to more "fairly" distribute taxpayer-funded pensions to everyone.
I called this one a long time ago, and unfortunately, I am sad to report that they're actually trying to figure out how to do it.
If there's a pitchfork moment in this country it had better show up fairly soon, because if this report is accurate you can bet that these clowns are going to find a way to attach this in some obscure section of a 2,000+ page "must pass" bill - another one of those "you have to pass it so you can read it" deals.
I hate it when I'm right. I hate it even more when tens of millions of Americans are going to get reamed to pay for the crimes of the handful on Wall Street, and their crony enablers in Washington DC.
And by the way - you don't hold hearings on something you don't intend to do.
From Market Ticker.