CALPERS (California Pension Plan) - Too Big to Fail, and Acting Like It Benzinga.com:
"A great read on Reuters about America's largest pension fund, CALPERS. Talk about 'too big to fail' - the Californian taxpayer is on the hook if CALPERS cannot pay out the avalanche of promises to California's state workers... and we know what that means. We're all on the hook for it... see 'stimulus' plans passed as de facto 'state budget gap fillers'... shhhhhh, it's a secret (wink wink).
There are so many long term issues in America I sometimes get lost in the morass. We don't even have time to really focus on the pension issues but we've mentioned it a few times. [Apr 5, 2009: AP: $1 Trillion Hit to Pension Funds Could cost Taxpayers, Workers] [Oct 24, 2009: WSJ - Pensions Funds Taking Serious Hits]"
"A great read on Reuters about America's largest pension fund, CALPERS. Talk about 'too big to fail' - the Californian taxpayer is on the hook if CALPERS cannot pay out the avalanche of promises to California's state workers... and we know what that means. We're all on the hook for it... see 'stimulus' plans passed as de facto 'state budget gap fillers'... shhhhhh, it's a secret (wink wink).
There are so many long term issues in America I sometimes get lost in the morass. We don't even have time to really focus on the pension issues but we've mentioned it a few times. [Apr 5, 2009: AP: $1 Trillion Hit to Pension Funds Could cost Taxpayers, Workers] [Oct 24, 2009: WSJ - Pensions Funds Taking Serious Hits]"