pl/pgsql oddity

Hello everyone,

When writing some serverside code I ran into an oddity that I
managed to boil down to this:

-------------------------------------------------------
create or replace function fubar() returns varchar as '
declare
  l integer;
begin
  l = 38;
  if l < 38 then
    return ''< 38'';
  elseif l >= 38 then
    return ''>= 38'';
  else
    return ''this is not possible'';
  end if;
end;'
language 'plpgsql';
-------------------------------------------------------

But I can't understand or solve it. The function always returns
'this is not possible'. Can someone tell me what I'm overlooking?
Thanks!