Great article that unfortunately lets pensioners be aware and know that they cannot see their own investments even though it’s their own money. The ex gov of RI now Commerce Secretary raimondo a Wall Street capitalist knew this when she became treasurer and used the industry’s tricks of the trade learning from Enron’s John Arnold, (who took with him $8 million when he knew Enron was going to shut down) to use terms like trade secrets, to take away pensioners’ COLA and giving it to Wall Street in the guise of high fees. It was a gig that worked for them with of course the approval from the GA, the unions and Boudreau the retirees rep since they all voted for rirsa2011 throwing the rank and file pensioners under the bus. These outsiders, John Arnold, Wall Street and of course the capitalist herself, raimondo, screwed the “uneducated in this area” pensioners to which the unions could have said no to the GA legislation but they CHOSE NOT TO. It took Ted Siedle to come to RI and educate pensioners like myself as to what had been going on and still is going on: the lack of transparency and now many GA members are backtracking saying they didn’t know to which my answer is baloney; it was their job as their constituents rep, to know what’s going on. Will the GA reverse the decision they made about the cola years ago? I doubt it esp since speaker Shekarchi was raimondo campaign manager.
I am a Rhode Island pensioner while retired for over a decade the then General Treasurer created a fake pension crisis and rushed through the General Assembly so called pension reform that decimated our pension benefits. This she used as a springboard to Governor and now Secretary of Commerce. Biden and Harris should watch their respective backs as she has ambitions to president. She is the darling of crooked Wall Street.
Great article that unfortunately lets pensioners be aware and know that they cannot see their own investments even though it’s their own money. The ex gov of RI now Commerce Secretary raimondo a Wall Street capitalist knew this when she became treasurer and used the industry’s tricks of the trade learning from Enron’s John Arnold, (who took with him $8 million when he knew Enron was going to shut down) to use terms like trade secrets, to take away pensioners’ COLA and giving it to Wall Street in the guise of high fees. It was a gig that worked for them with of course the approval from the GA, the unions and Boudreau the retirees rep since they all voted for rirsa2011 throwing the rank and file pensioners under the bus. These outsiders, John Arnold, Wall Street and of course the capitalist herself, raimondo, screwed the “uneducated in this area” pensioners to which the unions could have said no to the GA legislation but they CHOSE NOT TO. It took Ted Siedle to come to RI and educate pensioners like myself as to what had been going on and still is going on: the lack of transparency and now many GA members are backtracking saying they didn’t know to which my answer is baloney; it was their job as their constituents rep, to know what’s going on. Will the GA reverse the decision they made about the cola years ago? I doubt it esp since speaker Shekarchi was raimondo campaign manager.
I am a Rhode Island pensioner while retired for over a decade the then General Treasurer created a fake pension crisis and rushed through the General Assembly so called pension reform that decimated our pension benefits. This she used as a springboard to Governor and now Secretary of Commerce. Biden and Harris should watch their respective backs as she has ambitions to president. She is the darling of crooked Wall Street.
Great article