Labour urges reforms to pension legislation

‘Too big to fail’ also means ‘to big to save’
By Gordon Sova
||Last Updated: 06/15/2009

Someone in the CBC news department coined the term “pessimism porn” for the current exaltation over bad economic news. The greater the uncertainty some individuals face, the greater their glee at seeing someone else falling victim to the very danger they fear.

Most recently, Premier Dalton McGuinty became the hero of the pessimism porn aficionados when he stated the obvious truth that the province’s Pension Benefits Guarantee Fund (PBGF) would be unable to cover the shortfall if the General Motors Canada pension plan failed.