Expect a lot of this. $3.4 TRILLION of pension funds nationwide gambled away on Wall Street. Investigations need to be launched against finance directors, state & federal government legislators and former administrations and union leaders. Get to the bottom of why these investments were made. Pension funds must be invested in TRIPLE A and LIQUID investments – (non- traditional) mortgages (MBS) are not liquid unless forced into default… school loans (ARS) are certainly not a secure investment and credit cards (ABS) have a history of failure… and we know the TRIPLE A ratings were rigged. Oust the bad guys – including politicians that promoted the derivative investments.
See -Maryland $50 billion in unfunded state and local retirement benefits, study says: http://marylandreporter.com/2013/10/30/50-billion-in-unfunded-state-and-local-retirement-benefits-study-says/
See also: City pension officials spend nearly $100,000 on trips: http://www.baltimoresun.com/news/maryland/baltimore-city/bs-md-ci-pension-travel-20150318-story.html#page=1
Check you state’s pension fund disaster: http://www.pensiontsunami.com/public.php
Longtime educator gives an inside view of deplorable conditions and poor learning environment as city officials prepare to layoff nearly 1000 employees to address budget deficit crisis.