From the “WTF!!!” files – Teamsters pension fund beneficiaries receive $100,000 per member as $36B part of bail out of the CSPF – all hidden in the 1.7 trillion omnibus bill no-one read
From here:
“Through the last two federal election cycles, the Teamsters spent more than $9 million on lobbying and more than $10 million in member dues, fattening the campaign coffers of the union oligarchy’s friends.
.. if the name Central States Pension Fund rings an unpleasant bell, that’s because it was the vehicle created by the Teamsters President Jimmy Hoffa as a means of enriching himself. He used the fund to make loans to his mobster friends and took kickbacks, which landed him in jail. He then turned control of the fund to a mobbed-up friend, who was himself jailed for taking kickbacks. And then the replacement’s replacement was also jailed for taking kickbacks.”
“The largest private pension bailout in American history’ gave each beneficiary of the Central States Pension Fund nearly $100,000.
Can Americans be bribed with their own money? The powers that be are certainly putting that question to the test. In recent years, we’ve seen inflation-inducing cash giveaways associated with “Covid relief.” We’ve seen the ongoing attempts at profoundly inequitable student loan forgiveness. In December, we saw a $1.7 trillion pork pie omnibus appropriations bill passed by a Congress that had no time to read it.
Lost in all of this has been one spectacular giveaway: $100,000 per beneficiary of the Central States Pension Fund (CSPF). The fund provides pension benefits to nearly 360,000 private-sector workers and retirees, mostly Teamsters Union members. U.S. Rep. Kevin Brady, R-Texas, called the deal out in December, noting it was “the largest private pension bailout in American history” that benefited only “a tiny minority of workers.” He suggested it resulted from the insanity of “allowing those who mismanaged pensions to determine whether their funds qualify for taxpayer assistance with no safeguards.”
“How much is the Teamsters’ mere $36 billion? To put it in perspective, you could run the state of Colorado for a year on that money. You could run all five states of New Hampshire, Vermont, South Dakota, Wyoming, and Idaho, and still have billions left over. The $36 billion is $108 from each man, woman, and child in America into the pockets of the Teamsters. And the White House bragged about it in a press release. Mob Rule.”
Onwards!
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Beyond WTF. Incredulous, as in Unfcuking Believable.