You can probably see what’s coming. After all, the stock market crash has already done serious damage to the state pension fund and the UC endownment. And here’s more of the same: thanks to the financial crisis, the stock portfolio to finance the retirement of Alameda County workers has dropped $1.7 billion, or thirty percent of its value, in the last ten months. According to the Tribune, October was the worst month by far, with a loss of $641 million. And keep in mind that this is for the first ten months of the year. No one knows yet how bad November was for the fund.
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