Primary Avenue Pensions Take Wall Avenue Gamble by Investing Borrowed Cash

Many U.S. cities and cities are years behind on their pension obligations. Now some are successfully planning to borrow cash and put it into shares and different investments in a bid to catch up.

State and native governments have borrowed about $10 billion for pension funding this 12 months by means of the tip of August, greater than in any of the earlier 15 full calendar years, based on an evaluation of Bloomberg knowledge by Municipal Market Analytics. The variety of particular person municipalities borrowing for pensions soared to 72 from a 15-year common of 25.

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