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.