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“The taxpayer has to worry. There is no way politically that Congress would let the PBGC fail to send checks to Grandma and Grandpa. Just like they rescued the savings-and-loans years ago without the legal obligation to do it, just like they rescued a number of banks without the legal obligation to do it, they’ll do the same thing with the PBGC if necessary,” Elliott said.

Still, even if the weak

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The American taxpayers have paid 40 BILLION Dollars, in taxes to be taken off of our future paychecks in ADDITIONAL Federal “withholding” go AIG and their employees to continue operations, salaries and bonuses as they have been, WITHOUT ANY LOSS. AIG employees and the other Corporate entity employees that have and will be receiving taxpayer money to continue operations, are the ONLY taxpayers who haven’t lost 40 – 50% of their pensions and 401k programs.

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Trillions in stock market value — gone. Trillions in retirement savings — gone. A huge chunk of the money you paid for your house, the money you’re saving for college, the money your boss needs to make payroll — gone, gone, gone.

Whether you’re a stock broker or Joe Six-pack, if you have a 401(k), a mutual fund or a college savings plan, tumbling stock markets and sagging home prices mean you’ve lost a whole lot of the money that was right there on your account statements just a few months ago.

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