[lightman]

Fuster cluck.

[stars & stripes forever]

Shut it all down and homeschool.

[Bonemaker]

Chicago teachers union is invested heavily in Africa! No chance of corruption there. Going to be a lot of pissed off retirees down the road.

[PGR88]

In the “old” days, a worker would receive payment in gold or silver, and they could save it, or loan it, and at least receive back the same value of their savings, which is the sum of their unspent labor.

Now the Federal Reserve targets a 2% inflation figure (frauds and liars will tell you the Fed doesn’t create money or manipulate all interest rates), so Jerome Powell is telling you it is their stated policy to take half of the value of your savings in 30 years. We can debate if real consumer price inflation is much higher than that.

So that leads most Americans and their pensions into the “financial markets” and speculative ventures over which they have almost no understanding, and zero control.

[SERKIT]

Wow! For once - a pension scam where Illinois isn’t mentioned....

[Mouton]

At least the pension fund got paid for the casino loans made by the teamsters under Hoffa to the mob. He went to jail though, none of these crooks will see the bars, ever.

[Flavious_Maximus]

Would not surprise me if the hack Josh Shapiro were in on it himself. He is as corrupt as they come. There’s a reason they call him the “Little man”.

[kiryandil]

“Unbeknownst to the state’s more than 200,000 currently working PSERS participants,” the complaint reads, “the plan’s consultants and advisors collected professional service and management fees in the millions of dollars, and made a compounding series of errors that has devastated the fund and resulted in at least a multi-billion-dollar funding shortfall.”

Ten percent for The Big Guy and all his connected friends!

[blueunicorn6]

Democrat Party money laundering.

[Steely Tom]

The Teamsters’ Central States Pension Fund invested in a lot of real estate too.

[Honest Nigerian]

Everybody is on the take? Widows and orphans hardest hit.

[Pennsyltucky Boy]

It’s so edgy when Pennlive comes close to committing an act of real journalism… but then you read it and discover it was actually a rare exercise in journalism by the once great Inquirer that Pennlive was simply covering secondhand. And then you realize that the reason they’re covering it at all is because it was about the former Patriot News HQ building that was involved in a dodgy PSERS real estate investment scheme and Pennlive was only providing cover for their corporate masters by denying (in their own report) that they benefited substantially from the deal. Oh well. I suppose that expecting real, accurate and in depth journalism purely in the public interest is just too much to hope for these days.