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Currently, there are billions and billions of pensions from unions, public sector workers, and even a few others, that are funneled into worthless junk by financial advisors.

For example, the California public workers pension fund just threw away $500M by participating in an insanely leveraged scheme to empty one of Manhattan's last middle class housing complexes and turn it into luxury housing.

by rootless2 on Mon Jun 7th, 2010 at 08:27:00 PM EST
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