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There Go The Pensions...



February 28, 2008 – Comments (0)

In Biggest Sucker of All Nations I expressed my feeling about Canada having its pension money in the markets.  I think this is Canada's biggest risk in the market mess that appears to be unwinding.

I saw a story a couple days ago about this Pension Benefit Guaranty Corp doubling what it puts into stocks, but being Canadian, I didn't pick up the implications of this.

I was just reading Jubak and I only had to read what the organization does and my heart sunk.  44 million Americans have their pensions "protected" in case employers can't or won't pay promised benefits.  They have a $14 billion dollar underfunding problem and this isn't the way to fix it.This is a good way to redefine the problem as say, a $20 billion dollar underfunding problem.

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