North Carolina teachers and state employees may be bailing out the investment banks. State Treasurer Richard Moore says he?d be more than happy to loan the federal government the money from the $72 billion state pension plan. In exchange, he?d ask for a guaranteed rate of return. And he says he?s sure other states would be willing to lend money out of their pension plans.
In today?s Triangle Business Journal, Moore says he understands the general public?s hesitancy to support a huge bailout package for investment banks ? and, thus, Congress? unwillingness to rubber-stamp such a plan weeks before an election.
If the general public is hesitant, I wonder how the teachers and state employees of North Carolina feel about this. How would they vote on this proposal, if they were given the opportunity?
