UAL pension plan - Instapundit.com -

Instapundit: "Whatever you call this, it's not free enterprise."

I call it fraud. I call it moral hazard. The "plan" between UAL and its workers was to make rich promises to themselves and then roll the dice knowing that if the dice came up "you're bankrupt" Uncle Sam would bail them both out. Oh the humanity. Let there be a trainwreck.