Buy Me a Beer

Here's where I shamelessly beg for patronage. If you like what I'm doing, I dunno, maybe buy me a beer? I need your shares and tweets too! Thanks for reading.

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We don't give Wall Street interests far enough credit for stealing public money to finance their gambling habits. They've been lusting after public monies for years, and now they're having their way with pension funds. Big time.

Last December in San Francisco, a few score protestors made a loud demonstration at the offices of Blum Capital Partners in North Beach to protest the closure and sale of historic post offices. Escorted by police on motorcycles, they marched downtown to U.S. Senator Dianne Feinstein’s office. A common theme of the many speeches made that day was that Feinstein had somehow gotten her husband’s firm the contract to sell off the nation’s post offices. FactCheck.org checked the facts and announced that there was no evidence of any conflicts of interest with the CBRE contract.

Looting Public Pensions: A New Think-Tank Study

So we have a new feature out today, "Looting the Pension Funds," that looks at the blame game being played with state and municipal fiscal crises and the hiring of ultra-expensive "alternative investments" like hedge funds as a key trend in an evolving pension reform movement. The story looks at the role in the organized nationwide "pension reform" movement played by right-wing financiers like former Enron billionaire John Arnold and fee-hungry Wall Street honchos like Third Point billionaire Dan Loeb.