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it seems pension funds have more room for trickery. isnt that how las vegas was built? the reason why the unions fight so hard for them is that they are awesome to operate. not only is there money to lend friends but you also get sent on fancy vacations and taken out to fancy dinners by places looking for investment. im sure there are regulations to minimize trickery, but there always seems to be room for trickery.
i guess christie making a deal isnt enough, it needs to be law.
id imagine regulation keeps that stuff to a general minimum but whatever is there, i bet the managers of the funds absolutely love. im sure they get taken out to many dinners at mortons and trips to really nice hotels in really nice places. there must be some ability for the union to take out money and there is clearly an ability of some of that money to be used for political activities.
but im not sure discussing that stuff is significant here.
at the moment, you're just pulling stuff out of your nether regions. how would the union take money out of a pension fund? and what clear ability to use money for political activities is there? both of these statements are absurd.
If they're FINRA regulated, there's very little in gifts that money managers can receive.
exactly. pension funds aren't some petty cash drawer sitting at the union building. i dunno what planet captain went to in the past few hours, but I want whatever new drugs he got there. the only people who have been able to manipulate pension funds are the companies and the states (much less so than companies though who get to play some major accounting tricks with merging and selling off pieces of a business).
at the moment, you're just pulling stuff out of your nether regions. how would the union take money out of a pension fund? and what clear ability to use money for political activities is there? both of these statements are absurd.
im not pulling things out of nether regions, but I don't think its worth going into. it makes no difference. you can see that calpers donates money to political candidates. so im not sure why you are questioning that. you may question the significance of that. im sure if you do research, you will also see abuse of pension funds for using money for things other than maximum return to pensioners. yeah, im sure regulation has lessened that but its not gone. im not sure if you don't know about the history or are aware but think it cant be happening today. I think the most well known stuff was the teamsters and vegas but im sure there is plenty of history of abuse to be found with some research. but that's a separate discussion I think.
well, a "deal" is different from "law." I don't really know what it officially is but I would think if its law then the pensions should sue for the money and win.
well, a "deal" is different from "law." I don't really know what it officially is but I would think if its law then the pensions should sue for the money and win.
im not pulling things out of nether regions, but I don't think its worth going into. it makes no difference. you can see that calpers donates money to political candidates. so im not sure why you are questioning that. you may question the significance of that. im sure if you do research, you will also see abuse of pension funds for using money for things other than maximum return to pensioners. yeah, im sure regulation has lessened that but its not gone. im not sure if you don't know about the history or are aware but think it cant be happening today. I think the most well known stuff was the teamsters and vegas but im sure there is plenty of history of abuse to be found with some research. but that's a separate discussion I think.
OK, so Unions can use pensions as a piggy bank, and also use it for political donations.
And that's not pulling stuff out of your hole?
If you aren't pulling these comments out of your behind, then you are simply not as intelligent as I once thought.
OK, so Unions can use pensions as a piggy bank, and also use it for political donations.
And that's not pulling stuff out of your hole?
If you aren't pulling these comments out of your behind, then you are simply not as intelligent as I once thought.
i did a search before when ebwick mentioned calpers and i quickly saw they have donated money to political candidates. so doesnt that demonstrate that they use pension money for political donations?
there is a history of unions using pensions as a piggy bank. im not even sure why you are questioning that. i can see you saying it doesnt happen anymore and id agree that it doesnt happen nearly to that degree. but im not sure why you are acting like the revelation that pension funds have been misused is so insane.
The New York Times > Business > Teamsters Find Pensions at Risk
"In the 1960's and 1970's, the Teamsters' huge Central States pension fund was a wellspring of union corruption. Tens of millions of dollars were loaned to racketeers who used the money to gain control of Las Vegas casinos. Administrative jobs were awarded to favored insiders who paid themselves big fees. A former Teamster president and pension trustee was convicted of trying to bribe a United States senator."
Public sector unions have no control of any kind with the pension plan. I will repeat for about the tenth time the pension existed before there were public sector unions. The pensions have thousand of non-union members in the plans.
Public sector unions have no control of any kind with the pension plan. I will repeat for about the tenth time the pension existed before there were public sector unions. The pensions have thousand of non-union members in the plans.
yeah, I think I mistakenly said union in a post. its not an important tangent. I think the overall expenses of defined benefit pension funds are probably pretty low.
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