The piece is very long and you should read it all but here is a section half way down about pensions and if you are a Cop or a Fire Fighter you better take a look and ask your union leaders to look in to this....
How Much Will Politically Connected Pension Fund Money Managers Cost the Tax Payer?
Members of Wall Street's elite toasted Mr. Rattner at a party at the Four Seasons restaurant. Treasury Secretary Robert Rubin who helped Clinton appeal
Glass Steagall which many believe lead to the criminal activity on Wall Street with the derivatives market. We know that Fanny Mae and Freddie Mac are full of worthless subprime mortgages derivatives. What has not been discussed is how much of those worthless investments which Wall Street firms like Goldman Sacks called "Dead Presidents wound up in the pension funds, put there by Rattner and other politically connected money managers.
We already know that New York tax payers are having to pump billions into the pension funds because they were not fully funded and they lost billions in the 2008 Wall Street cash caused by Rubin and his friends. Cops will be cut, firehouses closed and class size increased because of what money managers like Morris and Rattner did to our pension funds. What has not been fully disclosed was how much of the investments sitting in New York pension funds are worthless and will also need to be bailed out by the tax payer. Perhaps we should learn more about the investments before the SEC finishes the fines Rattner much pay. The anticipated fine for Mr. Rattner is more than $5 million. His net worth is in the hundreds of millions of dollars, according to government disclosure forms.'
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