Why The Future of Public Pensions Could Be Bleak
Friday, December 06, 2013
Across the country, cities and states are trying to figure out how to address the growing public pension crisis. Collectively, they're underfunded by an estimated $1 trillion.
This week on Money Talking, what Detroit, Illinois and Rhode Island all have in common. Plus, banking regulators meet next week to approve the "Volcker Rule," the proposal that would make it illegal for banks to make trades with their own money. It's been three years in the making and has all sorts of exemptions, will it make the financial system safer? Plus a look at Time Magazine's exclusive interview with Carl Icahn, the shareholder activist who's doing all he can to force a stock bigger buyback at Apple.