Public pension funds hammered by a perfect storm

[FarCenter]

As hard as the economic downturn and volatile stock market have been on ordinary investors, public pension funds have fared much worse.

The Pew Center on the States estimates public pension funds are collectively short by $1 trillion. Some economists think that's an overly rosy picture and say the shortfall could be as much as $3 trillion. Unfortunately for the managers of these funds -- as well as the millions of public employees depending on them for retirement income -- the Fed's initiative intended to lower long-term interest rates will only widen that chasm.

http://bottomline.msnbc.msn.com/_news/2011/09/23/7921753-public-pension-funds-hammered-by-a-perfect-storm

[midnight]

1. K&R

[Bozita]

2. Can you say Shock Doctrine, boys and girls?

I knew you could.

[Historic NY]

3. Actually NY State has one of the best funded pension funds in the nation...

its fully funded and making interest. We have an independant elected state comptroller that won't let the politicians get their hands on the dough.

http://www.youtube.com/watch?feature=player_embedded&v=cXC9gFjV9H4#!