Saturday, March 12, 2011
CIA Pension Fund Going Bankrupt
This is fabulous. The federal agency given the task of compiling the info the country needs to survive in the hostile world has somehow mismanaged its own retirement accounts, the size and scope of which are secret. They need a little over half a billion dollars in the next budget to avert bankruptcy. And they have a total UNFUNDED LIABILITY of over $6.4 billion in their pension account. Remember, this is an agency of the federal government, the same folks that in one role or another tell the financial industry how to manage its affairs and want us to surrender up our own hard-earned funds for them to wisely disburse. Mark Steyn has a great take on it here.