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A free floating commentary on culture, politics, economics, and religion based on a passionate commitment to the truth and a desire graciously to refute that which is contrary to it….
"He must hold firm to the sure word as taught, so that he may be able to give instruction in sound doctrine and also to confute those who contradict it."
--Titus 1:9, Revised Standard Version
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Ohio sues Wells Fargo over pension fund loss
An Ohio pension fund has sued Wells Fargo & Co to recover losses suffered when a bank that it bought put the fund's money into a risky investment vehicle that failed.
The School Employees Retirement System of Ohio, represented by state Attorney General Richard Cordray, said it lost $29.6 million because a unit of Wachovia Corp mismanaged a securities lending program marketed as a "low-risk" way to boost returns.
Read it all.
Filed under: * Culture-Watch • Education • Law & Legal Issues • * Economics, Politics • Economy • Personal Finance • Pensions • The Banking System/Sector • The Credit Freeze Crisis of Fall 2008/The Recession of 2007-- • Politics in General • State Government
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