Unfunded Pension Liabilities: Could Less Risk Be More Risk?

In the fall of 2008, as the global financial crisis turned acute, fear ruled. Commercial paper vanished. LIBOR blew up. Markets crashed. Fortunately central banks came to liquidity’s rescue, helping recapitalize banking, rescuing too-big-to-fail companies and, for many nations, keeping people employed. Minerva Pension Investing Dilemma-English