Special report on the mess in Florida
Monday, December 03, 2007
Check out Bloomberg's Special Report on the evolving mess in Florida - the result, apparently, of money managers trying to get a little better return on their fixed income investments during an era that, in retrospect, was clearly a "Wild West" in credit markets.
The most recent articles suggest that the "unstoppable force" of investors wanting their money back is now meeting the "immovable object" of a fire sale of assets.
1 comments:
I also wrote about this horrible situation in my blog.
http://www.zacks.com/blog/comments.php?cid=10505
If you look at it from a distance, Florida is putting its whole educational future on The Florida Lottery (a.k.a. gambling) and these Investment Funds (a.k.a. gambling). It's sad to even say that.
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