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<h2><font color="#cc0000">Calpers suffers $40bn asset hit</font></h2>
<p><font color="#cc0000">By Deborah Brewster </font></p>
<p><font color="#cc0000">Published: October 22 2008 23:38 | Last
updated: October 22 2008 23:38</font></p>
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<p><font color="#cc0000">Calpers,
the largest state pension fund in the US, lost 20 per cent of its
assets, or close to $40bn, between July 1 and October 20 this year as a
result of failing financial markets.<br>
</font></p>
<p><font color="#cc0000">BLOOMBERG:<br>
Argentine Bonds <big><big><big>hit 30 percent </big></big></big>as
the country spirals into default.</font><br>
</p>
<p><u><i><b>Marc's notes:</b></i></u><br>
Take a good look at the above headlines. CALPIRS gets hammered. Expect
a bailout of pensions next as this is just one of MANY funds to plummet
as the stock markets declines.<br>
Also: Take a look at what can happen to Government rates when the
country gets close to default. You may see this headline in the US
someday. I hope not.<br>
</p>
<p>No notes tonight.</p>
<p>I will cover ALL OF IT in tomorrows show- 2 HOURS ! <br>
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<p>Marc Cuniberti<br>
Host and Producer of MONEY MATTERS<br>
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