Argentina Makes Grab for Pensions Amid Crisis

By MATT MOFFETT in the Wall Street Journal BUENOS AIRES -- Hemmed in by the global financial squeeze and commodities slump, Argentina's leftist government has seemingly found a novel way to find the money to stay afloat: cracking open the piggybank of the nation's private pension system. The government proposed to nationalize the private pensions, which would provide it with much of the cash it needs to meet debt payments and avoid a second default this decade. (Note: online access to this article requires a paid subscription to the online Wall Street Journal)