Bankruptcy

[Capricious]

"..Should the withdrawals continue, Florida's pool may have to consider filing for bankruptcy protection..."


http://tinyurl.com/yw62ee

 

[John R]

This should get quite interesting this week.

 

[Capricious]

The "smart" school districts/ municipalities have already secured
their money.

Those remaining in the fund are most likely looking at losses.

This is a textbook example of an old-fashioned, depression-era "run"

Good luck sueing Lehman; today's pre-schoolers will be at their
high school graduation before this is all worked-out legally.

There is more yet to come.

Watch the falling dominos

 

[NotDeadYet]

Seems to me something similar happened in the 80's with the California teachers retirement funds, or something like that. Anyone remember?

 

[SHELLY]

Seems to me something similar happened in the 80's with the California teachers retirement funds, or something like that. Anyone remember?

They lost $25M dabbling in Worldcom stock and $49M in Enron stock.

.

 

[Bob]

The Florida Retirement System lost over 300 million to Enron, and did not fold. This crisis is not the end of times.

 

[Capricious]

The Florida Retirement System lost over 300 million to Enron, and did not fold. This crisis is not the end of times.

Of course not.



Any investment losses can be replaced by higher taxes.

 

[Babyblue]

Of course not.



Any investment losses can be replaced by higher taxes.

No you sue and recover some of your loses without higher taxes. Just like Alabama did with Enron. Did anyone see the movie about Enron?