The sickening thing is that many of the managers who made the decisions regarding credit and lending over the past decade are now being retired on these cushy, guaranteed pensions. The pensions are based on huge salaries. Many of them are relatively young and will live to enjoy the benefits. Will we, as taxpayers, ultimately be footing the bill?
When some of the bank CEO's finally took pay cuts, it is probable that their pension was based on the higher amount.