Bill Gross of Pimco thinks we’ll be finding out soon.
Lots of pension funds are (or were) heavily in them. Retirees could see pensions shrink if the funds that a big enough hit. Municipalities and other governmental entities are probably heavily invested too.
How is it that stocks that used to be considered ultra-safe and secure are now approaching being worthless? Greed and a studied and deliberate lack of governmental oversight are the obvious primary reasons.