[RSmithOpt]

Ain't it ironic how the gov at all levels is so tangled up in the sub-prime mess, hedge fund BS in that many of those billion dollar funds were created on junk bonds.

Those entrusted with investing peoples retirement accounts should be required to invest the same percentage amounts of their assets into those junk funds...they'd not be so quick to give the nod if their butts were on the same line.

Just the tip of the iceberg.

The government has sponsored all this with gray legislation by willful intention neglect and 'oversight'.

[M. Dodge Thomas]

Those entrusted with investing peoples retirement accounts should be required to invest the same percentage amounts of their assets into those junk funds...they'd not be so quick to give the nod if their butts were on the same line.

They probably did - "sophisticated" investors, fund managers and institutions the *most* likely to have made these sots of investments

[Eric in the Ozarks]

You’d be hard pressed to find a state or big city government that is not, in fact, potentially bankrupt, when lifetime payoffs for retirements are considered. They just continue to give pensions with no consideration on who might pay for them.

[freekitty]

I imagine they have the inside scoop too.