Copyrighted Image? DMCA | The Christie administration could be facing a new round of indictments, this time for misappropriated pension funds: "At issue are the fees being paid by New Jersey's beleaguered public pension system to Wall Street firms. In recent years, Christie's officials have shifted more of the retirement savings of teachers, firefighters, police officers and other public workers into the hands of private financial firms. That has substantially increased the management fees paid by taxpayers to those firms. Indeed, while Christie says the pension system cannot afford to maintain current retirement benefits, pension fees paid to financial firms have quadrupled to $600 million a year -- or $1.5 billion in total since he took office in 2010.
"In recent months, details have emerged showing that Christie officials have directed lucrative pension management deals to some financial companies whose execut |
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At www.salon.com
At www.salon.com
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