US pension funds 'encouraged' to invest in failed banks

[Kris]

Well, you could say forced using market techniques.

Anyhow, have a gander.

“The FDIC is constantly looking at structures where we can get the greatest opportunity to tap into capital that we have not had the success reaching through previous disposition methods,” FDIC spokeswoman Michele Heller said in an e-mailed statement. “We welcome and work with all investors.”

Story here

...and if the money disappears then tough!

"Politicians' and public labor unions' assurances aside, there's another, not-well-publicized school of thought that says if the pension funds go bust, the state has no obligation to step in to pay the benefits. This runs contrary to the popular view that the Illinois Constitution, on its face, guarantees that all public employee pension benefits will be fully paid"

Story



This will end in tears...
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