From Politifax, a weekly newsletter covering NJ politics:
Novel Idea of the Week: Murray Sabrin has a
modest debt from his U.S. Senate campaign last
year. His solution? A speaking tour in which the
finance professor/libertarian Republican will tell
us -- for a mere $20 each! -- How to Prepare for
the Next Financial Crisis. The first stop on the
tour will be at the Cranbury Inn on March 5 (7pm).
https://www.facebook.com/events/741153299314980
Public pensions relying on paper promises
ReplyDeleteConsidering the new research, the situation would seem to warrant more objective scrutiny of the investment industry. Yet, that's not the direction of today's legislative debate. House Republicans have criticized increased government oversight of private equity firms and lately have been pushing legislation to exempt those firms from SEC oversight that could more seriously scrutinize self-reported valuations.
Of course, if this were just an issue affecting rich investors, then perhaps it would be an example of the wealthy bilking the wealthy. But this is about billions of dollars worth of public money. If the books are indeed being cooked, then untold numbers of public employees could see their retirement savings evaporate, and taxpayers could be on the hook for some of the losses.As the Enron debacle and the 2008 financial crisis proved, failing to strengthen oversight in the present could set the stage for a disaster in the not-so-distant future.
http://www.heraldnet.com/article/20150301/OPINION04/150309978
Any plans to do one at Ramapo College? Cranbury's a little too far.
ReplyDelete