Monday, March 08, 2010

Follow the money

FDIC Said to Encourage Pension Funds to Invest in Failed Banks
U.S. regulators are encouraging public pension funds that control more than $2 trillion to inject capital directly into the banking system by buying failed lenders, said people briefed on the matter.

Oregon’s retirement fund may contribute $100 million as regulators seek “the support of state pension funds to solve the crisis surrounding ongoing bank failures,” Jay Fewel, a senior investment officer at the Oregon State Treasury, said in a presentation made at the fund’s Feb. 24 meeting.

Government is investing money for political reasons and trying to pick winners and losers. They get to play with money like it isn't theirs. Oh wait, it isn't.


Anonymous said...

I get pissed off when I see government spending billions of dollars invading other countries where they have no business, spending the money like it isn't theirs. I'm glad you you join me, Miglavs, in opposing that practice. Oh wait, you don't.

Anonymous said...

DO YOU HAVE A PENSION FUND?I think most of the money is in some one elses pocket. So i dont care what they do with it. But wait would the taxpayers pay less for state wages if they said no to the investment.

DAVE01 said...

I have a question. I wonder of anyone can answer it?

If the banks fail will we have to bail out the pension funds? Especially the state pension funds.

Daniel said...

I have a 401K that is managed by a private company and controlled by me.

This company makes investment decisions based on their fiduciary responsibility, not politics.