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.
State Pensions Fully Protected Under Law? Fuggedaboudit!
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.