Bail Tales

When it gets too much
I need to feel your touch
I'm gonna run to you
--Bryan Adams

John Mauldin notes mortgage bailout rumor that we noted a couple posts back. Would be truly sad if it happens. Note Aug 17th date for UST mtg on future of Fannie, Freddie.

Rest of his missive is on the underfunded public pension situation. A few yrs back, concerns began surfacing on underfunded private pensions, essentially because pension mgrs were plugging in discount rates that were too optimistic.

Now appears public sector has been doing that and then some.

no positions