2026 TeoTwawKi ... 2032 Darkest Interregnum Message Board

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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum

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Nov 21 4:00 PM EST

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To: TobagoJack who wrote (21757)	8/29/2007 6:53:29 PM
From: Snowshoe	Read Replies (3) of 217942

Speaking of "joe6pack", a few days ago the Alaska retirement system issued a terse announcement about a little "oops" in one of its user-directed bond fund options. The problem fund is managed by State Street Corp and contains a high percentage of asset-backed stuff. The retirement management board: concluded that its duty as fiduciary of this fund required it to act decisively and immediately to stop further losses in the Daily Government/Corporate Bond Fund in order to protect the beneficiaries of this fund. These State Street institutional products have been widely sold to retirement systems, so I expect this problem is cropping in retirement accounts all over the US. I emailed the details to the business editor of our local newspaper and suggested he have someone look into it. I will not be too surprised if we see a rash of articles about pension fund problems in a few weeks. I posted some more of the details here: Message 23837647

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