The Morning Report
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The New York Times did a story today about the impact of the Amaranth collapse on San Diego County’s pension fund.
It cited Treasurer and Tax Collector Dan McAllister as saying it appeared that the county had invested $160 million in Amaranth and not $175 million.
I had heard the $160 million number as well yesterday as opposed to the $175 million figure, which I and everyone else ended up reporting.
Yesterday, CEO Brian White, from the San Diego County Employees Retirement Association confirmed that $175 million was, indeed, the correct one.
So what’s the $160 million? I forgot to ask, truthfully. My hunch is that’s actually what the county’s original investment was worth after Amaranth took its cut.
I’ll try to find out.