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Recent report that DeSantis steered pension funds to Wall Street money managers who donated to his campaign. If accurate, this is *huge.* Would mean he's ripping off state employees—cops, teachers, etc. Also potentially criminal. More investigation needed.
jacobin.com/2023/05/ron-de…
jacobin.com/2023/05/ron-de…
A federal anti-corruption rule prohibits donors from receiving pension investments. But "private equity execs have donated millions to political groups supporting DeSantis," while FL transferred > $1 billion of public employees’ retirement money into donor's investment funds.
"It raises the distinct possibility that the decisions that the pension board is making may be serving DeSantis’ political interests and not the pensioners’ interest...
The state’s high-risk, high-fee strategy has resulted in an about $10 billion loss [for 2019-2022]."
The state’s high-risk, high-fee strategy has resulted in an about $10 billion loss [for 2019-2022]."
“It’s pretty obvious that DeSantis is delivering for the private equity industry, and in exchange they’re providing funding for his campaigns.”
- Eileen Appelbaum, codirector of Center for Economic and Policy Research @ceprdc
- Eileen Appelbaum, codirector of Center for Economic and Policy Research @ceprdc
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