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To: yard_man who wrote (76349)6/20/2003 11:48:59 AM
From: reaper  Read Replies (4) | Respond to of 209892
 
that is wonderful news, turning the GM pension into a hedge fund. i seem to recall this tactic worked very well for New Jersey several years ago, when their pension fund issued a bunch of bonds and put the proceeds in the stock market.

at some point somebody will explain to me how borrowing $10 billion to contribute to their pension fund makes GM any less "under-funded" than they were yesterday.

Cheers