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Which is why I keep arguing that the credit crisis is mainly a problem for the rich.  But what complicates matters is that social savings also has to invest and save in order to provide for pensions and other benefits, and, like hedge funds for the rich, public pension managers also need to optimize, under time constraints, where and how they secure their members wealth, so they rely heavily analysis of risk such as that provided by rating agencies.
by santiago on Tue Apr 27th, 2010 at 03:15:26 PM EST
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