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Strategies & Market Trends : Booms, Busts, and Recoveries
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To: TobagoJack who wrote (49806)5/11/2004 11:16:00 AM
From: Elroy Jetson  Read Replies (2) of 74559
 
That's exactly the way I see things structured.

Unlike 1990, the banks don't take the major hit on real estate losses. The loss on real estate loan defaults flow primarily through to Pension Funds.

As a group they're basically under-funded as it is. From there that means big hits to corporate profitability. Then how big is the hit going to be to the PBGC (Pension Benefit Guaranty Corp) which is self-funded by member Pension Funds. The weak funds take down the big ones as well with the demands generated by their defaults.
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