Wednesday, April 16, 2014

Ed Deformer Hedge Funders Looting Public Employee Pensions

So when you invest your pension money in hedge funds, you might be paying a hundred times the cost or more, you might be underperforming the market, you may be supporting political movements against you, and you often have to pay what effectively is a bribe just for the privilege of hiring your crappy overpaid money manager in the first place. What's not to like about that? Who could complain?... Matt Taibi, Rolling Stone.
A Matt Taibi Rolling Stones article was being re-circulated today and it is mind blowing to see how the very people who back Success Charter, Student First, DFER are taking massive cuts to mis-manage public employee pensions while trying to destroy the unions. One of the most outrageous piece of info I learned was that workers, the press and the public have no right to find out how their funds are invested by these hedge hog characters who claim that is "proprietary" info. Matt points out that the AFT did put out a list of these hogs and got hammered for doing so.

Go forth and read this entire Oct. 2013 piece - if you have the stomach for it.

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