Chris Christie can’t afford to pay public teacher pensions… but still hands education megacorp $82m in subsidies

Chris Christie can’t afford to pay public teacher pensions… but still hands education megacorp $82m in subsidies.

It’s not because NJ “can’t afford” to pay pensions – it appears its because NJ carelessly invested in fraudulent securities without thorough due diligence like nearly every other state in America. They gambled away the retirement funds of their employees.

In the NY Times today SEC Mary Jo White announced the use of Section 20(b) of the Exchange Act – indirect culpability … It’s time to grill the finance directors on who gave the orders to buy these crappy securities because they had to know (especially after 2004) that these were questionable investments. What promises were made by the investment banks in exchange for the pension fund investments?

One thought on “Chris Christie can’t afford to pay public teacher pensions… but still hands education megacorp $82m in subsidies

  1. Where does the responsibility for the fraud begin? Start with banks and wall street..
    Where does it end?
    End with the banks and wall street.
    Add in the paid for congress..
    What a mess.
    Why no jail time for the perps?
    If you or I even jay walk, we pay the price. The banks and the street get off with small, cost of doing business fines, for crashing the economy, ruining lives…causing people to die, homelessness……crazy world, eh?

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