Interview with Howard Marks: Masters in Business (Audio)
Masters in Business
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Is the State Bankruptcy a Good Idea?
There is no provision for state bankruptcies in the bankruptcy code. A lot of public pension funds are going to have big problems down the road. I'm not an expert on the numbers, but I believe that it's more imminent than infinite. And I just don't think that the average citizen understands the risk.
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Transcript
