The Next 2008: Private Equity Bubble To Bankrupt Pension Funds
Writes Ginny Garner:
Lew,
Is the entire American pension system going to be bankrupted? Ever heard of back floating rate loans? Private equity firms have taken out adjustable rate loans on which the interest goes up every 30-60 days. Successful companies are going bankrupt trying to pay off these loans. The banks are repackaging loans as CLOs sold to pension funds as great debt. This will touch every industry around us because the private equity firms own day ca
Article from LewRockwell
LewRockwell.com is a libertarian website that publishes articles, essays, and blog posts advocating for minimal government, free markets, and individual liberty. The site was founded by Lew Rockwell, an American libertarian political commentator, activist, and former congressional staffer. The website often features content that is critical of mainstream politics, state intervention, and foreign policy, among other topics. It is a platform frequently used to disseminate Austrian economics, a school of economic thought that is popular among some libertarians.
