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View Diary: This week in the War on Workers: Rhode Island at the center of hedge fund-backed attack on pensions (31 comments)

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  •  Hold on (1+ / 0-)
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    Raimondo is a problem solver, something Democrats usually take pride in.  When Raimondo first started she worked with all groups trying to craft a solution.  but sometime the answers aren't always easy.  Rhode Island needs people like her if we are to keep pensions financed without going under.  Trying to pigeonhole her as a Wall Street type, "nominal Democrat" is just BS.

    •  This isn't problem solving. (1+ / 0-)
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      It's graft to the hedge funders.

      Pension monies should never be under the control of hedge funders or other Wall Street types.  They pillage as much of it as they possibly can, and we've seen this over and over.

      As such, she's no "Democrat" in any real sense of the term.  She's a collaborator of the worst sort.

      There are many other things she could have done to get the pension fund healthy again that would be far less risky and costly than putting the money in the hands of hedge fund pirates.  For example, hire a team of proven investment managers in-house and let them manage the money with full transparency.  In fact, that's how many other states already do handle their pension trust funds.  They're most certainly not stupid enough in many other states to give the proverbial robbers the keys to the proverbial bank and the combination to the proverbial bank vault.  So she's either a moron, or she's in on the scam and set to make bank.

      •  By this logic (0+ / 0-)

        Would you say that her likely challenger, Mayor Angel Tavares, also isn't a "Democrat" because Providence also invests retirement monies in hedge funds?

        "In Providence, hedge funds on Sept. 30 made up 16.6 percent of the $241 million in Providence's retirement account, according to a city report. That's nearly two and a half percentage points higher than the state’s ratio."

        Your language seems pretty strong. Moron or in on the scam? C'mon.  

        •  I stand by that strong language. (0+ / 0-)

          Why?  Because the sheer amounts of money that are involved here.

          Read further down, just below this comment of yours, where I illustrate exactly how a similar plan was floated by rightwingers here in NY - and the staggering costs attributed to something that was purported to "save money."  Take a look at the numbers I go over - then come back here and defend this idiot.

          I understand the pension game quite well - this comes from years of defending my own.  As such, I also know when something isn't right.  Something isn't right here - and if she can't see or cannot acknowledge it, she is most definitely a moron or in on the scam.  That's a fact.

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