I started this blog in June 2007 asking these questions: Are we in a massive asset bubble that will blow up in our faces ??? - ANSWERED YES ! Is western and particularly British society on the verge of social collapse??? What are the best common sense long term investment strategies to keep you rich? When will consumption/debt bubble economics end and a real savings/production economy begin ???

Wednesday, 22 October 2008

Pensions have billions in toxic assets

Pension funds across Europe, Asia and North America stand to lose hundreds of billions of dollars from investment in so-called "toxic" assets.

Concern is also growing that clients of European private banks have also been left holding tainted mortgage-backed assets, potentially triggering a wave of litigation.

The International Monetary Fund has estimated that worldwide losses from structured products such as collateralised debt and loan obligations, asset-backed securities, commercial paper-backed securities and structured investment vehicles will hit $945bn (£546bn, €705bn), with some private estimates far higher still.

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