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Retirement
blues: Falling interest rates add to worries
California: The lowest interest rates in decades
may be helping to keep the American economy afloat, but
to retirees who depend on interest-bearing accounts to
live, the low rates have been crippling.
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US
fund takes WorldCom, Citi to court
New York: A $400-m pension fund in Maryland filed
a lawsuit to recover losses from the auditor and the major
underwriters of WorldCom bonds purchased by the fund,
the plaintiff's law firm said on Friday. The lawsuit calls
for “full recovery” of losses relating to the
purchases of the bonds, the firm of Milberg Weiss Bershad
Hynes & Lerach said in a statement.
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