[RU88]

Public pensions across the country are in incredibly bad shape but you here next to nothing about this in the press. Suppose it will take one to default before this gets the proper attention it deserves.

New Jersey's pension public employee pension system is talking about doing the same. Let me get this straight. We have a pension system that is awash in red ink which by any actuarial account can not meet future obligations. We have this same system buying “toxic assets” which for all any one knows may not be worth the paper they're written on. Reminds me of a gambler who is on a losing streak who thinks he's going to make it back with one more turn on the roulette wheel. This will end badly.

[TigerLikesRooster]

I tell you one thing:
lots of these folks will be in denial to the bitter end.

[A_Tradition_Continues]

It makes no difference. Pension funds purchase worthless paper, the government bails out the pension fund with taxpayer dollars.