Matt Taibbi on How Wall Street Hedge Funds Are Looting the Pension Funds of Public Workers
http://www.democracynow.org
- In his latest article for Rolling Stone, Matt Taibbi reports that Wall Street firms are now making millions in profits off of public pension funds nationwide. "Essentially it is a wealth transfer from teachers, cops and firemen to billionaire hedge funders," Taibbi says. "Pension funds are one of the last great, unguarded piles of money in this country and there are going to be all sort of operators that are trying to get their hands on that money."
Matt, There's a lot of money in Rhode Island, from Newport to nearby Stonington, from to Watch Hill, and many mansions in the area, boats, expensive cars. Do you think any of the hedge funders are home grown? There is also a much less conspicuous working class in towns like Westerly. We go from pizza to caviar in the blink of an eye. That area also has its own private airport for locals. Has there been any major investigation(s) of these sections, locals, and/or where money for the lifestyle of the rich and filthy is coming from? Keep up the good work.
ReplyDeleteRegards,
Jerry Mazza,
Associate Editor,
www.intrepidreport.com,
gvmaz@verizon.net