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From my read of Levine's explanation, it was really the promise of a greater pension outcome for a given amount of contribution. Whether the contribution was s
by ISL 4y ago
From my read of Levine's explanation, it was really the promise of a greater pension outcome for a given amount of contribution. Whether the contribution was smaller or the outcome larger is kinda immaterial -- the managers were chasing yield.
- kasey_junk 4y agoAnd also accounting rules not really being well factored for the pension use case.