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New Jersey Pensions - Political Investing

Monday, March 17, 2014

Lee Fang, contributing writer for The Nation, reporting fellow with The Investigative Fund at The Nation Institute, and author of The Machine: A Field Guide to the Resurgent Right (The New Press, 2013), talks about his investigation into the investment practices of New Jersey's public pensions by the Christie administration.

Guests:

Lee Fang

The Morning Brief

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Comments [8]

RUCB_Alum from Central New Jersey

I can't get on board with "They All Do It" noise that the caller was selling but I do agree that the theft goes on through both Republican and Democratic politicians.

Take the last 40 years of American economic history as an example. Nominal GDP has gone up 10X - from $1.5T to $15T. Median household income only 5X - from $10K to $50K. How does the pie grow faster than the slices without significant, systematic changes that can only be enabled with tax policy and legislative changes.

The game is played by distracting us from what is important. We enable the theft by being led from crisis to crisis. We get a chance to call a halt to the bullsh*t in 232 days but the headlines make it seem like there isn't much of a chance of that.

Mar. 17 2014 10:57 AM
dlm

The liberal press is on a mission to trash Christie. Then Lehrer uses that Christie is "in the press" to justify additional Christie stories. Is Lehrer lying or just completely lacking in self awareness?

Mar. 17 2014 10:51 AM
Fred from Brooklyn

Brian, you're not fooling anyone. You're out to get Governor Christie.

Mar. 17 2014 10:51 AM

How does David Samson profit ?

Mar. 17 2014 10:43 AM
Vjijon from CT

I know that here in CT, hedge funds hedge their political bets and donate LOTS of money to all political parties and candidates...

Mar. 17 2014 10:42 AM
RUCB_Alum from Central New Jersey

Started under Corzine - one can make the plausible argument that Corzine knew how finance worked at the time, recent evidence not so much. Continued under Christie, who uses the mechanism to funnel public money into GOP donors pockets.

It stinks, it's corrupt and it ought to end.

Mar. 17 2014 10:39 AM
Jan

Were pension funds invested in Xanadu?

Mar. 17 2014 10:37 AM
superf88

Wasn't Christie Whitman the one who began cleverly investing public pensions into day-to-day expenses in order to "close the budget gap"?

Mar. 17 2014 09:50 AM

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