| If you are counting on your pension as retirement income, you must read this article.Wall Street insiders, it says, pumped $300 million into the last election. In return, they get to invest your pension funds. Some of those investments are very risky. Illinois, Massachusetts, and Rhode Island all recently elected governors who were previously executives and directors at firms which managed investments on behalf of state pension funds. These firms are now, consequently, in position to obtain even more of these public funds. But Wall Street's agenda goes beyond any one election cycle. It has been fighting to turn public pensions into private profits for quite some time, steering retirement nest eggs into investments that are complex, charge hefty fees, and that generate big profits for management firms. And it has been succeeding. Of the $3 trillion in public assets currently in pension fu |
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At firstlook.org
At firstlook.org
