In response to:

Hostess Fires 15,000 Workers in Liquidation; Twinkies Silliness From Readers

David4 Wrote: Nov 23, 2012 12:13 PM
A mistake: Mish wrote "the Pension Benefit Guarantee Corporation (PBGC). The PBGC is of course US taxpayers who should not have to pick up any of this tab at all (but they will)." The fact: The PBGC is funded by premiums paid by companies. Taxpayers backstop that. Since PBGC is government run we can presume that they are incompetent in setting rates to match expenses, thus increasing taxpayer risk.
The Obama Timeline author Wrote: Nov 23, 2012 12:17 PM
Exactly. The PBGC has nowhere near enough funds to do much of anything if there is a fiscal crisis. Nor does the FDIC. Nor does any other agency. Prepare for the worst, folks. And then do not be surprised if it is worse than that.

The BBC reports Twinkies firm Hostess Brands wins liquidation bid.

Note that the first step in liquidation will be the firing of 15,000 workers including the closure of 33 bakeries, 565 distribution centers, approximately 5,500 delivery routes and 570 bakery outlet stores.

At least a dozen readers sent emails in response to my previous two posts on Twinkies.

One misguided soul from the Netherlands wrote "Your article on the bankruptcy of Hostess is so extremely biased. I am...