Thursday, March 14, 2013

News Round Up: Happy Pi Day

What a crazy week it has been.  It felt like only one day passed between Daylight Savings and Pi Day, instead of four.

In personal news: my husband has been out of town all week, leaving me to take care of the house.  That definitely didn't happen.   I get a lot of long days at work, which is why he takes care of the house in the first place.  They were longer this week, so I was away from the house 14 hrs instead of the usual 11-12.  

Work-life balance is on my to-do list.

In non-financial news:  The Conclave elected a new Argentinian Pope (Francis I).  I didn't expect Benedict to step down, but it is very exciting to see a pope elected from the global south. Does it count as non-European if the new pope's parents are Italian?

In blogging news: Google Reader is getting the boot.  I also hit my first two blogging milestones: 100 page views, and my first comment.  Thanks to Mrs. Pop at Planting Our Pennies!

SEC is pressing fraud charges against the State of Illinois.  WOW. The SEC reports that in multiple bond offerings from 2005 to 2009 "the State of Illinois misled bond investors about the adequacy of its statutory plan to fund its pension obligations and the risks created by the State's underfunding of its pension systems."

I find this legal drama to be very interesting, and really pretty scary.  Most government pension systems are underfunded (around 75%).  Illinois' pension system was only 40% funded.  I don't know how funded Social Security is, although the Social Security Trust Fund is owed something like $2.7 billion.  It's really disheartening how many 'safe' investments like bonds are really just run by a bunch of corrupt criminals who will destroy your life savings.  Be mindful of the risk involved in all of your financial dealings.

What news story caught your eyes this week? 

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