Public Pension Ponzi Schemes
April 06, 2010 at 10:51 AM EDT
Making promises that can’t be kept. Garnering support via payback if not kickbacks. Effectively misrepresenting expected returns. Am I talking about Bernie Madoff and every other con artist who has ever perpetrated a Ponzi scheme? No, although I could be. I am addressing the reality of the public pension system in our country. Those participating [...]