Illinois pension fund death spiral revisited

http://www.zerohedge.com/article/illinois-pension-fund-death-spiral-revisited-10-years-money-left

This fund is already selling, this year, about $80 million of assets a month. Here's the problem - if you have to sell faster than you thought you have to sell, because you are not getting that state funding, then you sell the liquid stuff - stocks, bonds, and then you are left with private equity, real estate, infrastructure...all of a sudden your portfolio has changed, people are asking questions, it is a major issue.

http://www.youtube.com/watch?v=V3obGLpSKFA&feature=player_embedded