60% Chance Pension Obligation Bonds Will Lose Money
July 20, 2009
For some reason the PDF file on the county website is password protected, preventing me from uploading it to Scribd.
Here’s a screen cap from the June 17th, 2009 minutes:
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I always thought this was a risky move. Seems like trading on margin to me. It’s possible we’ll be referring to this as Walker’s Pension scandal in a few years.
Just for the record, I contacted the County Retirement System director for data on this subject on several occasions and received no reply. Specifically, I asked for a schedule of investments and of the rate of return on the assets parked pending investment. (It will take a number of months to fully invest the proceeds; however, the bond funds were available immediately.)
Time to go ballistic and to invoke the public records law to get this information Walker and his cronies are withholding.
Horne
Thanks, Dave and Michael. It appears that several of the PDF’s on the pension site are under password protection. The user name is “dpeterso” but there is no one by that name in the JS’s database of county employees.