every FL resource is marshalled for DeSantis' WH bid: pension $$ into underperforming donor funds

[BlueWaveNeverEnd]

Ron DeSantis Is Giving Away Florida Pension Money to Wall Street Donors


Florida governor Ron DeSantis has been putting huge sums of state retirement money into underperforming private equity firms that have donated to his campaign efforts.

lorida governor and Republican presidential hopeful Ron DeSantis has been crusading against “woke” investments for allegedly threatening his state employees’ retirement funds. But the most imminent threat to Florida public employees’ retirement dollars appears to be the massive state pension investments that have gone to some of the Republican Party’s Wall Street donors under DeSantis’s watch.


Despite a federal anti-corruption rule designed to prevent donors from receiving pension investments, private equity executives have donated millions to political groups supporting DeSantis, all while the governor oversaw the transfer of more than $1 billion of Florida public employees’ retirement dollars into these donors’ high-fee, high-risk “alternative investments.”

Our review found that had the state pension fund instead been invested in a simple, low-cost index fund, compared to its present mix of holdings, teachers, police officers, and other state employees would have about $10 billion more in their retirement funds.

“From a distance, it sure looks like the pensioners are getting hurt here,” Kathleen Clark, an ethics expert and professor at the Washington University in Saint Louis School of Law, told us. “It certainly seems like it raises the distinct possibility that the decisions that the pension board is making may be serving DeSantis’ political interests and not the pensioners’ interest.”

https://www.msn.com/en-us/news/politics/ron-desantis-is-giving-away-florida-pension-money-to-wall-street-donors/ar-AA1bj3DI

[Meadowoak]

1. That can't possibly be legal.

[BlueWaveNeverEnd]

2. Florida legislature will pass a bill to make it legal.

[bpj62]

3. No press conferences

DeSantis does not believe in press conferences. He takes no questions from the press and his quick react team will very quickly attempt to delegitimize this story as just another scurrilous attack by the "Woke" media.

This story needs legs because it is clear that DeSantis is defrauding state employees and pensioners. Republicans always commit thier crimes in plain sight.

[Freethinker65]

4. And this MFer wants to be President!?

[FloridaBlues]

5. A lot of these pensions are also republican voters.

Hopefully the pension boards will wake up and demand these funds move elsewhere.

[J_William_Ryan]

6. "A lot of these pensions are also republican voters."

Republican voters who have long voted against their own interests.

[Karadeniz]

7. I know Trump got rid of some fiduciary responsibility, but does Florida not have any fiduciary laws?