Copy of an unsettling post!
Lest anyone think that this original stock-bubble aftermath is behind us, the surfacing of municipal pension problems tells another story. Which brings me to "Pension Plans Face Billions in Shortages," a story in the Aug. 8 edition of The New York Times (registration required). It starts with the debacle in San Diego, whose shortchanging of worker pension funds was revealed thanks to the efforts of a whistleblower. These actions by the city have not exactly been a secret. It's just that no one cared for quite a while.
