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Monday, November 28, 2011

Is Another Economic Meltdown Upon Us?


Did you chuckle and say, "This can't happen to me."

Think again. See THIS and THIS and THIS. Excerpt from the last link:
The lawsuit was brought by the IBEW Local 90 Pension Fund in Connecticut, and the Plumbers' and Pipefitters' Local #562 Pension Fund in Missouri, and seeks class-action status.

It seeks damages for investors between February 3, 2011 and October 31, 2011 in MF Global securities, including its 1.875 percent convertible senior notes maturing in 2016, its 3.375 percent convertible senior notes maturing in 2018, and its 6.25 percent senior notes maturing in 2016.

MF Global is not a defendant because of the bankruptcy.

The case is IBEW Local 90 Pension Fund et al v. Corzine et al, U.S. District Court, Southern District of New York, No. 11-08401.
How many pension funds are at stake?

8 comments:

  1. What tangled webs the Democratic Party weave!

    Seriously, you have to admire the chutzpah of the progressive party. Let’s see. Democrats discriminate against people of color, while demanding equality for people of color. Wisconsin Democrats are ripping off their fellow citizens through public union swindles, while in New Jersey, former progressive officials are ripping off the unions. Raise your hand if you were surprised to learn that Mr. Corzine had no compunction arresting people for felonious behavior, except when the drunk driver happened to be Governor Corzine himself. As for MF Global —hey, lighten up! Jimmy Hoffa did it and union thugs continue to love that crooked bastard.

    Sam

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  2. Wouldn't you just love to stop worrying about our country quite so much again? Those were the days...

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  3. Coming from South Park, that says a lot. They actually got something right for a change.

    Harsh reality, "OUCH!" Is right.

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  4. I read today that the United States is poised to bail out the crash of the euro. Sheesh.

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  5. Of course a meltdown looms in our future.

    They are "fixing" a debt problem by... borrowing more money!

    This has never worked, nor will it work this time.

    Gold, silver and lead are the only good investments left.

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  6. Stock market up 500 points yesterday--proof positive the DNC is the party of the elites, the rich, the rest of you get rationed healtch care and inflation as wejoin Euopre in devaluing currencies to forstall the inevitable collapse...

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