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Oregon Invests In Blight

Submitted by liwi on Mon, 03/10/2008 - 12:02.


The Oregon Investment Council (OIC) approved investing $600 million of PERS money in Lone Star, a venture investment firm, at the end of January. This money is part of $10 billion Lone Star is seeking to buy up distressed mortgage lenders and faltering commercial properties. Is taking a bet on foreclosure vultures really a good deal? What do the candidates for Oregon Treasurer have to say about Lone Star’s scofflaw reactions when the foreclosed properties become public nuisances?

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