Belmont Club

By Richard Fernandez

Bio

Get Updates From Richard Fernandez
A Comment About

And the word was made flesh

September 5, 2008 - 12:09 pm - by Richard Fernandez
slade
2008-09-06 07:55:23

The next GSE domino to fall will be the Pension Benefit Guarantee Corp (PBGC) which insures defaulted pension plans primarily from the steel and airlines industries, and a few other unfortunates. They’re in trouble right now and it’s only going to get worse.

I’d say 3-5 years out.