In Louisiana, a Pension Official Blows the Whistle on Adviser Conflicts

[AP]

Louisiana officials are trying to determine what, if anything, has gone awry with their teachers' pension plan.

They recently learned that they must unexpectedly come up with an extra $147 million for the fund.

Now, legislators are considering whether to relax their funding rules. The trustees say the rules require the pension fund to grow very quickly, forcing them to invest in higher-risk assets in search of higher returns. These assets can swing sharply in value, throwing the fund off its targets in some years and forcing the state to raise extra money.

http://www.nytimes.com/2004/03/21/business/21LOUI.html

This article doesn't come out and say it, but, between the lines, is an incredible indictment of what passes as capitalism in America but is REALLY just socialism for those who have purchased political influence and power.

[Media_Lies_Daily]

1. Is it possible that they had invested in Enron...just like Florida did?

[AP]

3. An Enron investment is detailed in either this article

or the other NYT article about corrupt pensions which I also posted in LBN today.

[jus_the_facts]

2. it's not too difficult for my lowly 12th grade public educated mind....

..to wrap around!! :eyes:

[jus_the_facts]

4. lol...that's my lowly 12th grade La. public school educated mind...

:D