Lakewood90712
Thinks s/he gets paid by the post
- Joined
- Jul 21, 2005
- Messages
- 2,223
Small 401k from a long ago mega-corp job, has changed the stable value fund. Used to be invested in Guaranteed Investment Contracts spread among over a dozen insurance companies, and banks. , short term paper, etc.
The new fund prospectus says it is 4% cash and 96% " Synthetic GIC's" thru one foreign bank.
I have a rough idea of how " Synthetic CDO'S " work , so what the heck is a Synthetic GIC ?
For lack of a better term - Side bets among financial institutions ?
The new fund prospectus says it is 4% cash and 96% " Synthetic GIC's" thru one foreign bank.
I have a rough idea of how " Synthetic CDO'S " work , so what the heck is a Synthetic GIC ?
For lack of a better term - Side bets among financial institutions ?