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QOTD: The Public Pension Shakedown April 20, 2009

Posted by federalist in Pensions.

The pension fund scandal exposes the myth of the superior virtue of the public and nonprofit worlds. Greed is universal. And the opportunity for corruption is enormous when political discretion is tied to vast sums of public money.

That’s today’s WSJ editorial page.  I’ve railed against the inherent hazards of public pensions frequently.  Another highlight from the WSJ’s piece:

It has also become routine for politicians to inject their pension funds into partisan debates that have nothing to do with the sound management of retiree money.


1. federalist - July 6, 2009

Another Op-Ed describes how “Public Pensions Cook the Books.”

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