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:: Thursday, October 04, 2007 ::
Give some back, Steel pensioners told - By Matt Assad, Allentown Morning Call, PA
''Most of my friends have lost their marriages or their homes,'' Bragg said. ''When you keep chipping away at a man, you leave him with nothing left, and nothing to look forward to. This disgusts me.''
The problem dates to 2001, when Bethlehem Steel filed for bankruptcy. The Bethlehem company was ultimately sold, and its multibillion-dollar pension obligations were turned over to the Pension Benefit Guaranty Corp., a federal agency created in 1974 as a safety net for failed company pensions.------------------------------------------- posted 7:23 AM :: reference link ::
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