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U.S. Pension Agency Has Lost $3 Billion in Stock InvestmentsBy Betsy Miller Kittredge on 10-22-2008, 03:01 PM in
Chairman George Miller announced at a hearing today in San Francisco that the U.S. Pension Benefit Guaranty Corporation lost at least $3 billion in stock investments during the last fiscal year through August, and invested a significant portion of its funds in mortgage-backed securities. The losses were only partially offset by modest gains in other investment classes. It is likely that losses will be substantially worse after September results are reported. Comments: No Comments. Submit a Comment Comments are open for 24 hours after the post is made. |
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