Florida pension fund loses $200M in Russian investments, state rep. says

[Nevilledog]

https://www.wfla.com/news/politics/florida-pension-fund-loses-200m-in-russian-investments-state-rep-says/

TAMPA, Fla. (WFLA) — In the intervening months since Russia invaded Ukraine, oil prices have risen, inflation has increased, and the state of Florida has reportedly lost millions due to investment in Russia. Even before the losses, Florida Democrats had urged the state to divest itself from the money it’s invested in Russian companies.

Now, Democrat Andrew Learned (D-Brandon) says the state’s pension fund has lost $200 million from its investments in Russia, following sanctions on the country due to the war. The state reportedly has $300 million invested in Russia-based companies.

“Florida’s Retirement System LOST over $200m in our Russian Investments after refusing to divest our holdings when I called for it over two months ago,” Learned tweeted. “Turns out, backing Putin and his war crimes in Ukraine wasn’t just bad for freedom, it was a bad investment too.”

Shortly after the invasion of Ukraine on Feb. 24, Florida Agriculture Commissioner Nikki Fried and other state lawmakers requested that Gov. Ron DeSantis formally end the state’s involvement with Russian businesses through the state’s pension fund.

*snip*

[Cha]

1. TY!🤷‍♂️

💙💛

[Bristlecone]

2. This sounds like a somebody made a quid pro quo decision

I do t understand why FL pension would invest in Russian companies to begin with. But if I had to guess, the people managing the funds got rich and are likely Republicans. But that’s a guess

[patphil]

3. Another bad business decision by DeSantis that cost Floridians hundreds of millions.

[Demovictory9]

7. please someone ..run some ads... "while Desantis was picking a fight with Disney, FL goes to hell

[certainot]

15. as long as dems ignore talk radio it doesn't matter. well established dittohead desantis

knows how to piggyback rw radio and fla is a republican talk radio state. astounding considering all those stations keep telling the dumbfucks that global warming don't work.

even more astounding: 5 fla universities support 20 rw radio stations, and they all helped create the red velvet bandwagon that DeSantis will need to get reelected

FLORIDA 20 Florida 10, Florida St. 4 Miami 2, South Florida 2, Central Florida 2

[JanMichael]

4. Didn't they keep buying Enron even after it started collapsing?

And lost millions then too? NC has a much better managed retirement system

Florida is run by amateurs or criminals one of the two

[bluedigger]

5. I'm starting to think that there's a lot of idiots in Florida.

[Deuxcents]

6. Just starting?! Yes, my Friend..it's maddening..

And they keep getting elected n the elected keep their inept people. We used to call it the good ol’ boys club. Still sounds about right.

[SergeStorms]

11. I moved out of Florida 20 yrs. ago....

because it was full of idiots then. They'd been there decades before that. Florida politics has been a crooked mess as far back as I can remember and I'm in my mid-70s.

[keithbvadu2]

8. "Russia is our friend" - new republican meme of Trump's regime.

[SunSeeker]

9. Whoever thought it was a good idea to invest the funds in Russia needs to be fired. nt

[not a texan]

10. It is only those liberal teacher's pension so who cares?

The repugs have been taught to hate other people getting a pension because theirs were taken away by the businesses they worked for years ago. Instead of fighting to get their own pensions back they feel better about the world if no one else has a pension either. I hate to think about how much money was kicked back in this process to the republican party of Florida. What a way to literally own the libs, use lib money to give to Russians, who then kick back money to the repugs so they can afford to take even more away.

[SWBTATTReg]

12. Why so much in a country that is less than 5% the size of the US? Way too much exposure

(obvious now of course). I doubt that they'll ever recover their money.

[ZonkerHarris]

13. Follow the money. Why did so much get invested there? GOP payoffs and graft? Follow, follow follow..

the $$$$$$$$$$$$$$$$$$$$$$$$$$$$$4

[3Hotdogs]

14. Not to worry. They can do like New Jersey did and just not fully honor the commitment to their

pensioners. Thanks to Chris Christie.

[LetMyPeopleVote]

16. What does Putin have on DeathSantis?

[malaise]

17. How DeSantis got his swamp drained by Igor, Lev, and Russian cash

https://www.palmbeachpost.com/story/news/columns/2019/10/15/how-desantis-got-his-swamp-drained-by-igor-lev-and-russian-cash/2524833007/

It’s good to see Florida’s self-professed swamp drainer, Gov. Ron DeSantis, has decided to give up some of that Russian “hoax” money that flowed into his campaign last year.

DeSantis’ office announced last week that it would be returning the $50,000 his campaign political committee, The Friends of Ron DeSantis, took from a sham start-up company called Global Energy Producers, which was neither global, nor energy producing.

It was a creation of Delaware corporate paperwork magic that facilitated the transfer of money from an unnamed Russia oligarch into the coffers of Republica