WALL STREET CLAWS INTO PUBLIC PENSION PLANS

“WALL STREET IS TAKING OVER AMERICA’S PENSION PLANS” by Murtaza Hussain Nov 20, 2014

Click for Source Article by Murtaza Hussain on FirstLook.org

$300+ Million = Wall Street BRIBES in 2014 Election

WALL STREET AGENDA = Move $3 Trillion of unguarded GOV pension funds into FEE-SUCKING PRIVATELY BANKSTER MANAGED JUNK AND SOME DECENT INVESTMENTS.

WALL STREET FRAUD = AT LEVELS NEVER SEEN IN HISTORY = BIGGEST STORY OF OUR GENERATION.

BANKSTERS WANT TO GET THEIR CLAWS ON = Illinois + Massachusetts + Rhode Island = New governors were previously at firms managing investments for state pension funds. = Firms that want even more public funds. = Huge payoff on that $300Million BRIBERY BANKSTERS made.

BANKSTER GOVERNORS = More pension money FLOWING into WALL STREET investments which offer great REWARDS to Wall Street CEOS — but NEAR ZERO for the broader economy.

Wall Street’s agenda = LONG TERM FIGHT to turn public pensions into private profits = Steering retirement nest eggs into QUESTIONABLE CRAP LIKE GOLDMAN SOLD THEIR CLIENTS = Complex Derivative SCams with MASSIVE FEES TO SKIM THE PROFITS into EXECUTIVE POCKETS for AWFUL PERFORMANCE.

Wall Street’s agenda = LONG TERM FIGHT = Has been succeeding = 25% of the $3 Trillion in public pension funds = PRIVATIZED “alternative investments” like hedge funds, private equity and real estate. = Already EXTRACTED $660 Billion of public money in high management and placement fees to Wall Street financiers — High risky and potentially destructive assets.

Wall Street’s agenda = WIDESPREAD POLITICAL CORRUPTION = David Sirota exposed = “…the amounts of money are so huge. It is happening in every state and every city in the country.”

2011 Blackstone Group private equity firm with pool of $111 Billion 37% from state and local pension plans — WSJ Report — Blackstone lobbies state governments to steer more pension money its way.

WALL STREET AGENDA = GET Pension Money into high-risk high-FEES alternative investments of questionable value. BANKSTERS CAN THEN DUMP THIER JUNK LOSERS into PENSION PLANS to clean up the BANKSTERS PERSONAL ACCOUNTS = NO CONCERN for the welfare of future pensioners! = SUTTLE OVERCHARGING AND/OR CRIMINAL ACTIONS of the financial industry lobbyists = Often significantly underperform the market.

Wall Street’s agenda = LONG TERM FIGHT Places ZERO importance on keeping American citizens pensions safe and prosperous. NOPE they MAXIMIZE FEES AND DUMP IN THEIR LOSER DERIVATIVES INTO THESE PLANS.

Wall Street’s agenda = Documented by Sirota at Pando Daily, reveals a Blackstone hedge fund invested in by the Kentucky pension system contains language such as: “the possibility of partial or total loss of capital will exist” , “there can be no assurance that any (investor) will receive any distribution”; and “the [fund] should only be considered by persons who can afford a loss of their entire investment.” = JUNK IS ON THE WAY!

BLACKSTONE captured $80 Million of the Kentucky pension money with almost no public knowledge or debate.

Wall Street’s GOALS = Preponderance of Evidence of egregious massive transfer of wealth from public to private management is having a corrupting effect on the political process.

Sirota’s in depth reporting PISSED OFF NJ Chris Christie = Sirota wrote that…”43 financial firms managing New Jersey pension money have spent a total of $11.6 million on contributions to New Jersey politicians.” = Directly to Gov. Christie’s election campaign + just before or just after Christie awarded the firms $Multi-Millions in pension mgt. contracts. = 43 firms GOT $14 Billion of state pension money — MADE possible by catering to the needs of Christie-Type Receptive Politicians.

Wall Street’s GOALS = Christie is PERFECT = Tenure as NJ governor has offered a WALL STREET PARADISE of reaching into public funds. = Christie installed a private equity investor as the state’s pension overseer and publicly lied about the manner in which pension fund investment decisions are made.

CHRISTIE SCAMS = Simply flow public pension money into Wall Street coffers = Massive BRIBES in our political system. = Alters the future shape of American society by changing how public funds will get SCAMMED.

CHRISTIE SCAMS = NEVER use pension money to help communities.

FACT: Marquette University professor proved how Quebec government’s pension investment funds boosted the regional economy — Invests in small and medium enterprises that operate within the province and created 86,624 new jobs and kept 81,993 more from moving overseas.

SAD FACT: Pension funds in USA Instead allow Wall Street Scams and EXCESSIVE FEES to SUCK DOWN PENSION FUNDS WILL BELOW MARKET RETURN AVERAGES.

FACT: Outsourcing investment decisions to Wall Street instead of giving them to accountable public servants adversely affects pension investment performance and the value to the community.

FACT: When money is managed by WALL STREET there is ZERO incentive to invest in local infrastructure + WALL STREET may invest in things that harm the local community because Wall Street doen’t CARE and would be happy to outsourcing local jobs abroad.

“There is a massive transfer of power and wealth happening from the public to Wall Street, through pensions. The more that money goes into private hands as opposed to public hands, the less that it gets invested into projects which are socially constructive…It’s a policy justified entirely on people’s ignorance of what’s going on.”

— Former Congressional staffer