....cityfan
The PBGC is a Quango that provides "insurance" coverage for pensions. However, they are becoming INCREASINGLY irritated by companies seeking Chapter 11 protection almost SOLELY to unload their pension obligations.
Rightly so, because "they," the "Quango" is a taxpayer supported entity; and I, as taxpayer, object to having to subsidize the pension payments of employes of private, mismanaged, semi bankrupt airlines.