The other whispering going on is how much CalPers and other public pension plans are invested in the mortgage securitization bonds and other soon-to-be junk bonds.
whispers , eh?
no doubt it would just be part of a ripple effect of a 1 trillion dollar hit in the overall financial subprime mortgage lender brouhaha.. which is fast unfolding as CEOs drop like flies
Hey! It wasn't too many weeks ago that what the President was calling "The Ownership Society" was "surging" and it even encouraging Bank of America to loan money openly to illegal aliens for home mortgages!!!
The liberals, as usual, were decrying "The Ownership Society," (especially around UnSocial InSecurity reform)while at the same time cheering on the private sector to loan money like mad to "the underpriviledged," so why shouldn't the world's largest liberal owned pension plan invest in CMO's (Collateralized Mortgage Obligations) and all other forms of mortgage securitization bonds "and other soon-to-be junk bonds???"
I often wonder just how desperate this whole situation has to get before the public finally wakes up!!!