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O'BRIEN SAYS PENSION FUND LOST $1.5B IN SEPTEMBER
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The state pension fund lost $1.5 billion last month, erasing
virtually all of the gains posted since state Treasurer Shannon
O'Brien took office nearly four years ago, according to figures
released yesterday.
The fund lost 5.9 percent of its value in September, and 9.8
percent during the third quarter that ended Sept. 30. That battering
was driven by nosediving stock prices and market conditions that
haven't been seen "since the Great Depression," O'Brien said.
"Given the precipi...
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