CBS 60 Minutes Chris Christie Meredith Whitney Pension Crisis

Dec. 19, 2010, State Budgets: Day of Reckoning
60 Minutes, municipal government Meredith Whitney segment ... financial collapse ...CBS '60 Minutes' shines spotlight on the states' budget and pension crises
Steve Kroft reports on the precarious financial conditions many states are facing — including California — and what they're doing about it: Muni sixty crisis

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[TheCarguy974]

Why can't PA have a governor like Christie, Jindal, or Perry.

[TheCarguy974]

JBL's wife.

[johnsmithvideo]

Chris Christie is awesome! Finally, a governor who cares about the taxpayers in New Jersey!

[myHome109]

The entire municipal bond market is only $3 Trillion and the entire federal debt is $14 Trillion.

What is wrong with Government Union Pension fund, PONSI CAPER.

There is no assets and no investments, just a lot of liberal arts propaganda and hot air.

The real question to ask, DO THE TAX PAYERS HAVE TO FUND GOVERNMENT PONSI SCAM FOR THE GOVERNMENT LABOR UNIONS PENSION SCAM?

[myHome109]

Please remember the President stated Congress must increase the debt ceiling about $14 Trillion to prevent government shutdown. If the total debt issued by the USA government is 200% to 350% less than the entire holding by Government Union pension funds and the total asset valuation of all the stock holding on Wall Street. Isn’t it time to ask,

…and what the heck have Government Workers been smoking and drinking?

If the Gov. Pension is not a ponsi scam, disclose the accounting.

[myHome109]

This implies the government workers saved enough money to equal 80+% of all assets in USA. When the calculation show the government workers saved enough money to own all of Wall Street Investments, 80% of all real estate assets in USA, 80% of all mining assets in USA, 80% of all farm productions?

Don’t we need to ask the government workers to show us the title to all their holdings?

[myHome109]

If we use the historical data supplied by Ms Lav of 4% return for the last 10 years, then the amount of assets the Government Workers need to have in investment just to cover the current account short fall for this year is $1.9 Trillion / 4% = $47.5 Trillion Dollars.

$1,900,000,000,000 / 0.04 = $47,500,000,000,000

[myHome109]

In the news the review of current year government pension deficit are approaching $1.9 Trillion. Using the Ms Lav’s 8% growth in pension investments, presented during the congressional hearings, the accounting will require the government workers to have $1.9 Trillion / 8% = $23.75 Trillion invested.

$1,900,000,000,000 / 0.08 = $23,750,000,000,000

This number implies the government pensions own all the investments on Wall Street. Please show gov pension investment account.

[grumpyjamaican]

thanks for sharing this vid lawman49.

[castillianwagon500]

All these governments that can't control their spending will get EMERGENCY FINANCIAL CONTROL BOARDS that will slash & burn like N Y City in 1975.