Indiana State Pension fund seeks to block Chrysler 363 sale

[jiimbergin]

http://zerohedge.blogspot.com/2009/0...sion-fund.html


looks like the bankruptcy won't go just like the government wants.

jim

[Jay]

Re: Indiana State Pension fund seeks to block Chrysler 363 sale

http://zerohedge.blogspot.com/2009/0...sion-fund.html


looks like the bankruptcy won't go just like the government wants.

jim

Good, it's at least a speed bump in the process of the government destroying us from within.

[WildspitzE]

Re: Indiana State Pension fund seeks to block Chrysler 363 sale

"In several motions with the Chrysler docket earlier, the Indiana State Teachers Retirement Fund, Indiana State Police Pension Trust, and Indiana Major Movers Construction Fund, fiduciaries for "approximately 100,000 civil servants, including police officers, school teachers and their families" have objected to the 363 sale, and demand Judge Gonzalez should block the sale, claiming "the plan is illegal and tramples their rights."

but, but, but we need to protect our voter base.

ah crap...what now?

[charliebrown]

Re: Indiana State Pension fund seeks to block Chrysler 363 sale

Aha! I have been telling everyone I know (and getting a lot of blank looks) that if you nullify, bankrupt etc these junk bonds, MBS, CDO, etc it's not just greedy bankers or the uber rich who are going to take the hit. Since these things (maybe not chrysler debt) were rated AAA by the rating agencies then they were eligable for inclusion in pension funds etc. Also Aunt Millie was told to load up on this AAA crap too. Not so easy to wipe the slate clean. Someone always has to pay. Cram down a mortgage to give a family a break, Aunt Millie is force to eat cat food.