Pension Funds
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- Pension Funds
Overview
Pension Funds: A Crisis In The Making
It was in early 2007, when defaults were rising in the U.S. housing market that Wall Street began to feel the repercussions of CDOs because they included derivatives built upon risky subprime mortgages and other mortgage-backed securities. Eventually, the market for the underlying assets in the CDOs disappeared, making it next to impossible to get rid of the subprime-mortgage derivatives and other securities held by the CDOs.
News Commentary
Pensions In Peril: Can You Afford to Retire?
Ongoing testimony before the Committee On Oversight and Government Reform has given new insight to the “blame game,” as leaders from corporate America and governmental agencies point fingers at everyone and everything for the cause of the financial mess gripping the nation. Even the revered Alan Greenspan defended his own inactions before the Committee recently, which included allowing Wall Street firms to run amok as they traded in the complex market of credit-default swaps with minimal regulatory oversight during his tenure as chairman of the U.S. Federal Reserve.