Thread by @yomeeks

This is your daily pension announcement: The remember when edition! Remember when Kevin said that if pension plans under AIMCO were dissatisfied they could write a letter to the AIMCO Board? I think it was back in December.... #ABLeg #AIMCOfail

Which is the ultimate problem. Pension plans have no means to hold AIMCO accountable for its poor decisions. Its board structure is really from another era and more approriate for only the Heritage Fund. #ABLeg #handsoffmypension

So I bet the AIMCO Board will be getting some strongly worded letters about the evaporation of $2.1 billion (so far). That is a weak response given the circumstances.

My central point is that the board would behave differently if the pension plans appointed the members. #ABLeg

Not only that, but a board nominated by individuals who pay most of Kevin's salary would have a better take on executive compensation. I guarantee it. Cost control is just as important as investment results in a pension fund. #ABLeg

To recap, AIMCO has zero accountability to any pension plan. The plans can't fire them and they have no influence over executive pay. They also seem to have little control over the investment risk. #ABLeg

All of this might be okay if, in more years than naught, AIMCO returned a reasonable amount above benchmark.

Remember when @travistoews said:

"Why do they oppose innovation? Why do they oppose efficiency? Why do they oppose saving taxpayers’ hard-earned money?" (Nov 22) #ABLeg

Well, Travis, it is not innovation if it is done as a political favor to your donors.

You have no idea if your bro-dude plan is an efficiency. YOU NEVER STUDIED IT! YOU ARE MAKING BILLION DOLLAR DECISIONS WITH A BLINDFOLD ON!

Money saving? Exactly the opposite. #ABLeg #fail

Remember when @jkenney had the chutzpah to say that Travis will monitor and scrutinize AIMCO's inquiry?

Am I the only person that feels he does not have the skills required? #ABLeg #AIMCOfail

bnnbloomberg.ca/aimco-says-vol…