Sunday's Freep article raises an interesting pension question...

[BankruptcyGuy]

The major difference between this and other local control issues is the possible presence of a state guarantee. If the state is guaranteeing the debt, they would not allow 13th checks, funding of annuities, investment in local-only projects, etc. At least not willingly.

[Novine]

What's so magical about state control that they wouldn't engage in these kinds of practices? Look at some of the stuff that Chris Christie's been doing in New Jersey in financing the "American Dream" development in the Meadowlands and then come back to me and tell me how state government control is so much better.

http://blog.northjersey.com/meadowla...county-agency/

It's not pension fund financed but it shows how Governors will manipulate local finances to underwrite private development.

[Wesley Mouch]

What's so magical about state control that they wouldn't engage in these kinds of practices? Look at some of the stuff that Chris Christie's been doing in New Jersey in financing the "American Dream" development in the Meadowlands and then come back to me and tell me how state government control is so much better.

http://blog.northjersey.com/meadowla...county-agency/

It's not pension fund financed but it shows how Governors will manipulate local finances to underwrite private development.

The magic is that states are sufficiently large that we can see what they're doing.

The fact that you are aware of what Christie's doing shows that oversight works. You [[and presumably NJ voter) can decide Christie is bad, and/or pass new laws to guide pension plans away from self-serving investments.

I'll be you know nothing about Hoboken's pension investments.

There's nothing magical. Just enough eyeballs watching.

[Baselinepunk]

"The magic is that states are sufficiently large that we can see what they're doing."

This is the biggest bag of horse piss I've read in a while.



So big that we can see what they're doing.

What baffonary.

FLMAO!!!!