House of cards gets additional story
Now the feds are pushing PERS into buying up failing banks. Sounds like a plan.
| Posted at 2:52 AM | Permalink |
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Comments (6)
Are these people morons or crooks or both?
Posted by LucsAdvo | March 9, 2010 6:13 AM
The older I get, the more it's becoming clear: Nobody know anything.
Posted by Justin | March 9, 2010 6:59 AM
"Are these people morons or crooks or both?"
===
Makes sense to me.
To save the bank folk, we must...
Soak the taxpayers.
PERS folk pay taxes.
Ergo, soak the PERS folk.
Posted by Harry | March 9, 2010 7:14 AM
Wouldn't it be nice if Portland had a news media that didn't just rewrite PR releases.
Posted by David E Gilmore | March 9, 2010 8:35 AM
Well, to be a bitmore accurate, they want PERS to buy up the assets of fialing banks. Considering the timing, this might not be a bad deal.
Then again, the risk factor is probably a bit too much for PERS funds which guarantee a return with taxpayers making up the diff.
Posted by Steve | March 9, 2010 10:46 AM
Public pensions are the epitome of dumb money. Whatever is being pushed on them is guaranteed to be for suckers.
That's precisely why the Wall Street types are offering this "opportunity" to the pensions. "This one is to rich for us at Goldman Sachs. We want you guys to have it."
Posted by Snards | March 9, 2010 10:53 AM