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Rebounding Stock Market Keeps Public Pensions Afloat, Reports Says

Wall Street Journal    
First Posted: 03/07/11 12:28 PM ET Updated: 05/25/11 07:35 PM ET

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Public Pensions

Wall Street Journal:

A rebounding stock market helped buoy state pension plans' assets in 2010. But the plans still have a long way to go to bridge a funding gap caused in large part by losses suffered during the financial crisis, according to a report expected to be released Monday.

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A rebounding stock market helped buoy state pension plans' assets in 2010. But the plans still have a long way to go to bridge a funding gap caused in large part by losses suffered during the financia...
A rebounding stock market helped buoy state pension plans' assets in 2010. But the plans still have a long way to go to bridge a funding gap caused in large part by losses suffered during the financia...
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lodger16x
837 Fans
04:52 AM on 03/11/2011
This is such a house of cards!
W and his peeps crashed Wall St in Oct 2008.  W himself said, 'I had to destroy capitalism to save it." So , TARP 1  and Obama's TARP 2 essentially meant the non-investor class would sell the labor of their kids and grandkids to support the gambling losses of our brilliant Ivy league Wall St financiers.
A stock market backed by the TARP bailouts is not supported, because Wall St wants the working and middle classes to work to pay off  wall St's  gambling debts, but they withhold jobs because they have no feeling of being American, they are global capitalists now.
It has finally come to this. The capitalists who once called for vigorous defense of nationalism, now are more interested in free trade agreements, and private security by corporations like Xenon ( Blackwater pre-scandals)
They are one-worlders now, just like the right-wing extremists used to accuse the hippies of being!
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Y3rMawm
veni, vidi, bibi.
377 Fans
01:14 AM on 03/08/2011
The money in those pensions now buys less.
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planetjeffy
On the other hand, you have different fingers.
1651 Fans
12:34 AM on 03/08/2011
As long as we don't elect more Republicans, who will destroy what is left of the economy...we will be fine.
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lodger16x
837 Fans
05:11 AM on 03/11/2011
There is little difference between DEM and REPUB economic policy.  All media from all angles agree that the DEMs, including Obama, have let the REPUBS make deficits the #1 Pop Top Hit of 2011!
The people wanted Jobs and  Military Industrial Complex spending cuts, but HEY, your vote doesn't count unless you live in the DC Beltway!
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BBackSoon
Hello, I must be going.
855 Fans
05:18 PM on 03/07/2011
Whatever. Kick the can.

Really there is nothing wrong with the pension plans if there are enough workers in the system.
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lodger16x
837 Fans
05:04 AM on 03/11/2011
Think about who holds the money for years before you retire. REPUBs and ConservaDEMS want their Wall St financiers to take that money and invest it for themselves, just like they crashed the world economy in 2008. REPUBs and corporate right-wingers want every penny of public money, or even private money,  saved as health care reserves or private pensions , to be turned over to their financial buddies. Finance is now 41% of the American economy.
That's OK with the Bushes, Obamas and Clintons. It's not paranoia to think they're on the the same team. Same college. Same intro to the real access to power.
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fortressfountain
471 Fans
04:37 PM on 03/07/2011
This is only a temporary fix to help the ww2 generation. When it comes time for the boomers to collect they will be told the pension funds are broke.
If I had one I would look for a quick out or a retirement.
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lodger16x
837 Fans
05:26 AM on 03/11/2011
Note well that when our Ivy League sociopath financial geniuses on Wall St ran the economy into a Great Recession, Prez  W said we had 3 days to approve a total, unquestioned bailout , or SOMETHING REALLY BAD would happen.
The SRB was kind of like the WMD, it sure cost(s) a lot, but there is no evidence it ever existed.
But these concepts subsidized our free, honest, stable stock market.  Obama did TARP 2 because he believes in freedom.
All wealth and value is transferred at the speed of light through the wired and wireless. Conservatives are right, maybe-we don't need highways, schools, dams, high speed rail (those crazy hippies!), we just need Same Talk.
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spoonerrothbard
I Wannabe elite, Obama 2012!!!!!!
232 Fans
03:45 PM on 03/07/2011
Rebounding stock market my ads. Maybe in nominal terms. At its high before the crash the Flow was at 40 oz of gold. When it crashed it went to 8 oz of gold. Guess where we are now? 8 oz. of gold.
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Meesterclean
176 Fans
12:54 PM on 03/07/2011
It was not a good idea for America to start putting pensions on the stock market.
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mizutofu
29 Fans
01:41 PM on 03/07/2011
the reason pension managers buy stocks is because pensions are insolvent, they wont be able to pay back pensions if they dont invest in assets that yield higher returns.
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HowietheScreamer
Yes yes, I know my Micro bio is still empty
340 Fans
03:00 PM on 03/07/2011
That theory works provided we don't have another market crash. Double dip is now more likely with the rising oil prices. Bonds seem to be a better bet for the time being... or cash.
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Meesterclean
176 Fans
12:55 PM on 03/08/2011
There was a much more stable system before the rise of the 401k.
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