Is PBGC Out of Money? Too Big-to-Fail Pension Insurer Agrees to Liquidation Trust in ResCap NY Bankruptcy. Is a Bailout Next?

Gateway Pundit reports:

If you think it is only your mortgages and homes which are at stake in the largest bankruptcy in history where the simultaneous Chapter 11 bankruptcy filings of 51 residential mortgage companies occurred that is being heard in the Southern District of New York’s Bankruptcy Court before Judge Martin Glenn, think again.

Embedded within the claims/creditor section is Pension Benefit Guaranty Corporation (PBGC).

Established in 1974, PBGC is a federal chartered agency that insures more than 26,000 private-sector pension plans. The agency protects the retirement incomes of over 44 million Americans and is running a record $36 billion deficit.

PBGC filed claims against all 51 bankrupt residential mortgage companies that are directly or indirectly owned by Residential Capital, also known as ResCap.

Does GMAC, Residential Capital, Residential Funding Company, Residential Asset Security Corporation, Residential Accredit Loan, Residential Asset, ditech, Equity Investment, Homecomings Financial, and DOA Holding Properties sound familiar?

Is your pension next?