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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Bocor who wrote (108350)	2/16/2010 10:58:36 AM
From: mishedlo	5 Recommendations Read Replies (1) \| Respond to of 116555

Illinois Pension Fund $61 Billion Underwater; State Borrows Money For 2010 Contribution; California $20 Billion in the Hole Again globaleconomicanalysis.blogspot.com Illinois's pension fund is deep in the hole and getting deeper every year. The state's reaction never changes: borrow money and hope the returns beat the cost of borrowing. Former governor Rod Blagojevich tried that to the tune of $10 billion and it worked out less than spectacularly to say the least. Nonetheless Illinois is back at it for 2010. .... Mish