The city’s pension board held an hourlong meeting this morning, during which the members decided to cash out $50 million worth of public equities. Some board members had urged converting even more of the fund’s public holdings — perhaps another $50 million — to cash.
Almost half of Americans say their life and future plans have been affected by the housing market.
“What compounds that problem is that private sector companies and families who rely upon that (governmental) activity are going to be brought to a halt as well,” said Rep. Rob Andrews.