Friday, November 07, 2008

Really

From JSOnline
"State pension fund loses $10 billion in October

By Cary Spivak of the Journal Sentinel

Posted: Nov. 6, 2008" State pension fund loses $10 billion in October - JSOnline

The state's public employee pension fund lost another $10 billion in October alone, making it a virtual certainty that - barring a dramatic turnaround in the stock market - retirees' pension checks will shrink next year.

The State of Wisconsin Investment Board had assets of about $62.5 billion on Oct. 31, down more than $25 billion since the beginning of the year. The SWIB portfolio is now about the same size as it was at the end of 2000.


Really!

How did this happen? Call congress, need to print more money. Was 750, then 850, and then over 1 trillion, Need more bailout money.

The public employee's should be screaming about this. Oh, forgot the bailout money will fix it. Do I hear 2 trillion dollars?

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