The Indiana State Teachers Union gets schooled on finances

Huntington Political Examiner ^ | 12/04/2009 | Mark Shoffner

[mshoffner]

It seems as if this union has been gambling with the funds that are used for its members services. All Unions invest their funds to get a chance at the portfolio pie, hoping it will do good for its employees. And they claim that their losses are a result of the economic bust of the last few years. But a joint investigation by the FBI and the Indiana Secretary of State have found the regular union corruption reminiscent of the unions under mob control.

[Earthdweller]

What is this? An attempt by SEIU to silence the Indiana Teachers that were screwed over when Obama gave their investment money to the auto unions?

Ha..crooks and socialists, gotta love their loyalty./s

[Condor51]

But a joint investigation by the FBI and the Indiana Secretary of State have found the regular union corruption reminiscent of the unions under mob control.

Uh .. I don't think so.

Mob Controlled Union: "Gimme 'our' money or we'll break your legs."

Teachers Union: "Give us your lunch money or we'll slap you with a ruler."

Big difference IMO.

[Not that I know of how any Mobsters actually acted. (cough-cough, wink-wink]

[hoosier hick]

Nice to see the most dominant lobbying group in Indy having trouble. Only in the last few years did we vote to allow the union to invest pension funds in the stock market. If memory serves, taxpayers are not on the hook for these losses, because the referendum would not have passed otherwise.....

hh

[BobS]

" But a joint investigation by the FBI and the Indiana Secretary of State have found the regular union corruption reminiscent of the unions under mob control. On Wednesday, the Secretary of State Todd Rokita filed a complaint saying that the union has violated the Indiana Securities Act in their offering of an insurance plan to its members.

The complaint, filed in Marion County Superior Court, states that the union had mixed funds and now can not account for 23 million dollars. Among the alleged violations, the union was not registered as an investment adviser, made untrue statements and filed false reports. Under the current way the union is investing the funds, all advising for the distribution of remaining funds is to be done by a third independent party. Mr. Rokita says this filing should not affect claim payments to disabled teachers."