-- Connecting the dots between our economy, government and business --
Mark Glennon, founder of the online financial watchdog Wirepoints, discovered from public records requests that Frerichs doesn’t manage any direct holdings of Facebook.
“It came back a bunch of mutual funds that aren’t his, rather in the college savings accounts,” Glennon said. “He’s just playing games here, grandstanding on social justice warrior issues.”
Summary and audio linked here.
Chicago’s political leadership is floating a pension buyout program as evidence it is seriously addressing the city’s thirty-six-billion-dollar unfunded pension liability, but Mark Glennon, founder of the Illinois policy research organization Wirepoints, said that the proposal moves debt from one column to another rather than reducing it, and that the broader fiscal picture facing the city continues to deteriorate across every measurable dimension. Audio here.
Expect no retraction or apology. This what they do.
The state’s existing buyout program for its own pensions is the precedent for Chicago, which should be a warning: Look out for similar exaggerated claims and shoddy analysis.
Full interview and summary linked here.
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Maybe this fool could do his job and get his own house in order before telling others what to do
he could invest all the $ in sib bonds, just like jb