tiabitities actually the estimate of their liabilities falls actually the estimate of their liabilities falls and actually the estimate of their liabilities falls and when - actually the estimate of theirl liabilities falls and when bond prices liabilities falls and when bond prices go liabilities falls and when bond prices go up. liabilities falls and when bond prices go up, their liabilities falls and when bond prices go up, their liabilities i liabilities falls and when bond i prices go up, their liabilities go up. prices go up, their liabilities go up so prices go up, their liabilities go un. ., prices go up, their liabilities go up. so on the ldis, the liability driven investments, up. so on the ldis, the liability driven investments, are - up. so on the ldis, the liability driven investments, are they . up. so on the ldis, the liability - driven investments, are they forced to sail and do the deal on the other side of the equation in other words if that call is made
Theirl-liabilities
Liabilities
House-prices
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Call
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according to these allegations, to select the bonds that he wanted to bet against. and then failing to tell the abacus investors, the ones that invested in these bonds, that they were giving him that kind of inside deal in effect. so on behalf of the pensioners, the pension bonds and i m sure other states will be interested as well. while we re reviewing what we can do and what we should do. as well as what we can do independently to investigate. because the good news here is that the s.e.c. is finally beginning a thorough searching, penetrating investigation, long overdue. but finally to hold wall street accountable. are you launching your own investigation in connecticut? we are reviewing what we can did and considering the investigation. we re not about to announce it at this point. but certainly, if our pension funds have been harmed, we will take appropriate action. and there may be other bases to investigate as well.
Bonds
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bomb. then you have the state and local government budget bombs. this one i love! deficit of $110 billion in 2010. $178 billion in 2011. on top of the more than $450 billion in underfunded state and municipal employee pension funds. gee, firefighters. who is going to pay for this? who is going to pay for it? the underfunded corporate pension bonds. $405 billion deficit in underfunded pension. consumer debt bond. our tvs. americans are still living beyond their means, even with a downturn. we re still spending more than we have. which leads me to this. this is good news. the personal savings bond. this is great. we re saving more. but 70% of our economy is based on spending. so this is simultaneously bad
Bomb
One
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Estate
Government-budget-bombs
Top
10-billion
178-billion
110-billion
2010
78-billion
450-billion