When Pennsylvania makes the business section of the New York Times, you can bet the news won’t be good. It turns out that the Pennsylvania Teachers’ Retirement Fund was putting its assets into all kinds of risky investments, including trailer park chains, pistachio farms, oil-backed loans to Kurds seeking independence in northern Iraq, and my favorite, pay phone systems for inmates.
We are talking about a $62 billion fund. Now the FBI is investigating. Why wasn’t the legislature overseeing this? Probably too busy trying to make voting harder and attacking Wolf.
See the lead article in today’s Times Business section by Mary William Walsh, pp. B1, B4.
No comments:
Post a Comment