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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: TobagoJack who wrote (21757)	8/29/2007 6:53:29 PM
From: Snowshoe	Read Replies (3) \| Respond to of 217928

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

To: TobagoJack who wrote (21757)	8/30/2007 2:52:12 AM
From: energyplay	Read Replies (1) \| Respond to of 217928

Not all the Wantanabes will be wiped out - many have equity holdimgs, most unleveraged, in Japan, US, and European name brand multinationals, most of whom are making good profits selling Asia sourced products (China etc.) to the world and capital equipment and luxury goods to BRIC countries. When the Yen / market starts to be less correlated - market down sharply but the Yen up only a little, or both flat for days... then the Yen carry trade will be mostly spent as a force. There will still be bad news from all those mortgage resets coming... Bloomberg now talking about sub-prime mortgage delinquencies in the UK !