6% doesn't sound too high to me. Sounds like the school was doing what 
was supposed to do, but county could have been more surveillant. Ohio 
state lost a bundle within last few years with former governor's friend 
invested in coin collection. He's in prison now, and much of the funds 
have been reclaimed. That was outright fraud.

The government encourages mergers, etc. that makes it worst if one 
fails, it's a bigger part of the action.

William "Chops" Westfield wrote:
> On Oct 1, 2008, at 8:15 AM, Carl Denk wrote:
>
>   
>> Were they required specifically to invest in Lehman Bros.?? Maybe they
>> should have diversified and invested other places after careful
>> oversight.
>>     
>
> the schools were required to invest in the county fund.  The County  
> fund had 6% in Lehman; that sounds a bit high to me, but it's not  
> undiversified.  (IIRC, 6% is the max that certain types of funds are  
> allowed to invest in a single company?)
>
> BillW
>
>   
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