Lack of federal regulation of state and local pensions has long been recognized as a problem but no one wants to change the law. State politicians get donations from Wall Street pension managers and workers/taxpayers have no say in how public pensions are run.
Lack of federal regulation of state and local pensions has long been recognized as a problem but no one wants to change the law. State politicians get donations from Wall Street pension managers and workers/taxpayers have no say in how public pensions are run.
My question is why? Why no regulation of state pensions? Sounds too incredible to be true.