Here Are The States Ranked Worst To First In Pension Liabilities……Pathedic, But Very Few Are Paying Attention To This
Posted By thestatedtruth.com on March 13, 2010
From Barron’s
“The municipal-bond market, for one, seems vulnerable to the growing public pension mess. Warren Buffett, in his 2007 Berkshire Hathaway annual report, inveighed against the “woefully inadequate” funding in many public pension funds to meet “huge” promised payments to retirees. True to his word, Buffett has sold precious little municipal-bond insurance in a Berkshire Hathaway unit he set up for that purpose in 2008″.
Jim Spiotto, a muni-bond restructuring expert at the Chicago law firm Chapman & Cutler, argues “the pension crisis is quickly reaching a tipping point after being ignored for years”.
![[chart]](http://barrons.wsj.net/public/resources/images/OB-HV421_BAHALL_NS_20100312231203.gif)
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