Matt Taibbi; Looting the Pension FundsQuicklink submitted By mhenriday Permalink
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|The compleat guide to transferring money from people who have worked for the public to people who work to exploit the public and make political points while doing so....
RI state treasurer Gina Raimondo declared war on public pensions, ramming through an ingenious new law slashing benefits of state employees with a speed and ferocity seldom before seen by any local government.
Called the Rhode Island Retirement Security Act of 2011, her plan would later be hailed as the most comprehensive pension reform ever implemented.
What few people knew at the time was that Raimondo's "tool kit" wasn't just meant for local consumption. Raimondo was allowing her state to be used as a test case for the rest of the country, at the behest of powerful out-of-state financiers with dreams of pushing pension reform down the throats of taxpayers and public workers from coast to coast