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dalbuc

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« : February 11, 2009, 02:10:14 PM »

http://reason.com/news/show/130843

A tidbit:

Funds worth trillions of dollars start to plummet in value. Political pressure to be “socially responsible” distorts the market decisions of government-related enterprises, leading to risky investments. Investors who once considered their retirements safely protectedwake up to a sinking feeling of uncertainty and gloom.

Sound like the great mortgage-fueled financial crisis of 2008? Sure. But it also describes a calamity likely to hit as soon as 2009. State, local, and private pension plans covering millions of government employees and union workers with “defined benefit” accounts are teetering on the brink of implosion, victims of both a sinking stock market and investment strategies influenced by political considerations.

All posts are opinions in case you are too stupid to figure that out on your own without me saying it over and over.

dbucfan

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« #1 : February 11, 2009, 10:15:32 PM »

Did you read the entire article Dal - sounds like California could be a posterchi.. poster state for poor fund investing....

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dalbuc

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« #2 : February 11, 2009, 10:34:47 PM »

Did you read the entire article Dal - sounds like California could be a posterchi.. poster state for poor fund investing....

Oh, I read the whole thing and once more seeing that the terrible leadership in CA might screw the rest of the USA, again, wasn't a high point for me.

California always talks about being the X largest economy in the world and I'm thinking we might be better off the let 'em fly solo.

All posts are opinions in case you are too stupid to figure that out on your own without me saying it over and over.
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