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Essay / Research Paper Abstract
This 4 page paper evaluates an article entitled Public Pension Plans Face Billions in Shortage which appears in the New York Times. Implications of this article are discussed. Suggestions are made. No additional sources cited.
Page Count:
4 pages (~225 words per page)
File: RT13_SA636pen.rtf
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Unformatted sample text from the term paper:
the Mayor of San Diego would resign (Walsh, 2006). This is simply one story to convey the authors point, which is that people all over the nation should keep a
close eye on their pensions, particularly if they work for government. The title "Public Pensions Face Billions in Shortage" does not actually sound as if the problem is scandalous as
much as it is economic, but of course, introducing the article in this way prompts people to sit up and take notice, which is the prime objective of this well
written piece. The article is persuasive. It notes that not only did San Diego use questionable tactics in managing the pension funds, but other government bodies are doing the same
thing, except that they are not getting into trouble for it (Walsh, 2006). The author names names and locales. There is attention to the specifics, but the article is general
and makes the point that workers and citizens must keep a close eye on all government activity. The article then goes into the problems in New Jersey, Colorado and Illinois.
One problem noted by the author is that these plans are not tied to certain regulation, but rather are run by boards that can be countermanded by politicians (Walsh, 2006).
As a way to perhaps provide some form of suggestion as to what to do with the loopholes that have created duplicate problems in other states, the author quotes the
former chair of the SEC Mr. Levitt. Levitt calls the fact that SEC stopped looking at municipal finance as a regulatory hole (Walsh, 2006). What can be done? Simply stated,
the SEC should look at the doings of municipal governments (Walsh, 2006). In essence, it should not take a legal battle to bring a government down, or the portion that
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