May 21, 2009
Indiana Steps Up
The zany deal in the Chrysler bankruptcy finally has a serious opponent that willl be hard to for Obama to publicly belittle -- the three Indiana state pension funds (led by the state Treasurer Richard Mourdock). They are carrying the water for the rest of the country. In a statement that fortells the state's view of its prospects, however, Mourdock also announced publicly what many other will do privately -- a refusal to invest any funds in the debt of any bailout company or any company that may be bailed out. As noted here many weeks ago -- the government will be the only financer now for many trouble companies -- just the opposite of what a healthy recovery needs. Now is it up to the bankruptcy trustee -- I hope he steps up too.
May 21, 2009 | Permalink
TrackBack URL for this entry:
Listed below are links to weblogs that reference Indiana Steps Up:
More importantly, why would a pension fund own Chrysler?
As this financial mess unravels we will find many penion funds and college endowments made crazy investments at the advice of "investment consultants" who trafficked in conflicts and double dealing.
Daimler/Chrysler was a mess. Cerebrus/Chrysler is a mess. What were they thinking?
Posted by: save_the_rustbelt | May 25, 2009 12:09:16 PM