PBGC Loses Billions On Bad Investments
PBGC spokesman Jeffrey Speicher said the federal agency took a $3.1 billion equity loss in the first 11 months of fiscal year 2008, but that this was offset somewhat by investments in fixed-income securities and other products.
“We will be releasing our annual results in mid-November,” Speicher said. “It looks like the investment loss will...
To view the full article, register now.