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Public pension funds stung by Facebook’s falling stock
Posted By aaron On September 1, 2012 @ 1:01 pm In Economic Crisis,Old Infowars Posts Style,Tile | Comments Disabled
September 1, 2012
COMMENT: Infowars reporters were able to accurately predict both the looting (evaporation) of public pension funds as well as much of the Facebook IPO scam as pump-and-dump benefiting key insider investors leading up to and during coverage of the 2012 Bilderberg meeting based on the attendees and their known agendas. Browse our 2012 Bilderberg archives to see this and other coverage.
Public pension funds from around the country took part in Facebook’s IPO. The shares fell Friday to a record low of $18.06, or less than half their IPO price.
Public employee retirement funds from around the country took part in the Menlo Park, Calif., social networking juggernaut’s May 18 initial public offering and plowed millions of dollars into Facebook stock before its value plunged.
Facebook shares continued their decline Friday, falling $1.03, or 5.4%, to a record low of $18.06, or less than half their $38 offering price.
Although public pension funds staked only tiny portions of their multibillion-dollar portfolios on Facebook’s fortunes, the stock’s poor performance has added to the funds’ woes. Chronic underfunding and poor returns could lead pension funds to pursue riskier investments such as hedge funds, private equity, commodities and real estate, or even cut benefits for retirees.
FLASHBACK: Facebook IPO Funds NSA Data Mining Front / Bilderberg Hacks U.S. Elections
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