Do you have a 401K or pension that you feed but are not allowed to manage? Most pensions are this way, such a calpers. You feed in your savings for retirement, professional managers will make sure it is safe. Or not.
Check this out.
Why would the rating service do such a thing?
Check this out.
Money managers have a fiduciary responsibility to protect your investments. They are obliged to unload risky stuff, and buy good stuff. If a rating service says bad is good, and good is bad, your money manager can unload the one and buy the other, with no risk.
If the Arabs say to US Bankers "no more money until you get rid of the junk in your portfolios and load up on the good stuff" then the above would make sense as Wall Street loads up your pension with junk and takes out the good stuff for the bankers (ultimately the Arabs).
Who knows, just a guess. It's what I would do if I had Wall Street Power.
Even if you cannot manage your pension, you can see every trade made. Look now. Study what went out and what went in. Do any of the trades look like the securities in what is going on in the links above?
Friday, March 7, 2008
Did you Just Get Robbed?
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