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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum
GLD 398.95+0.1%4:00 PM EST
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To: TobagoJack who wrote (19930)6/30/2007 10:16:55 PM
From: Snowshoe  Read Replies (1) of 218842
 
I feel increasingly drawn toward the dark side. As credit spreads widen, we can now look forward to a series of warnings and disclosures from hedge funds, banks, insurance companies, pension funds, endowment funds, etc.

Here's a local example of the crazy USA debt orgy. Alaska government pension funds have an unfunded liability of about $8.5 billion, so one of our geniuses in the Alaska Legislature wants to borrow $4 billion by issuing "Pension Obligation Bonds" at a low interest rate. This borrowed money would then be invested in higher-return investments making up to 16% interest. In effect, this guy wants to start a government-operated hedge fund! He actually got the House to pass his bill unanimously this year, but it was blocked in Senate committee.
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