[Money-matters] Money Matters

[Marc Cuniberti/Bay Area Process/KVMR FM/KFOK FM Radios]

    Calpers suffers $40bn asset hit

By Deborah Brewster

Published: October 22 2008 23:38 | Last updated: October 22 2008 23:38

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.

BLOOMBERG:
Argentine Bonds hit 30 percent as the country spirals into default.

_/*Marc's notes:*/_
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.
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.

No notes tonight.

I will cover ALL OF IT in tomorrows show- 2 HOURS !     

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ALL THE BEST

Marc Cuniberti
Host and Producer of MONEY MATTERS


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