Bear market?
Recently the New York Times featured an article that blamed the failure of United Airlines pension plan on Wall Street. According to the article, Doug Wilson, a retired pilot noticed in 1987 that United's pension plan had abandoned its "tried-and-true" method of investing in bonds. The above chart shows how the S&P 500 has fared since 1987.
posted by Josh @ 11:11 AM
2 Comments:
It's not that the pension plan lost money during that time frame, it did not (as the article correctly stated) What happened was that the funding gap between what they owed and what they had expanded. he things is....Wall Street didn't cause that problem either!
It's not that the pension plan lost money during that time frame, it did not (as the article correctly stated) What happened was that the funding gap between what they owed and what they had expanded. he things is....Wall Street didn't cause that problem either!
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