"Too big to fail" means one thing for banks and another thing for union pension funds.
When banks are on the verge of collapse, Congress bails them out. When union pension funds are in mortal danger, Congress changes the law to let them shaft retirees.
Did you miss that newsflash? So did many of the 407,000 unsuspecting Teamsters, mainly former truck drivers, who received letters in October announcing whether their pension benefits will be cut.
Two-thirds of them got bad news. The Central States Pension Fund claims it will be reducing members' retirement checks by an average of 23 percent. Union activists say that figure is much higher, and for some the...