Sunday, August 7, 2016

What Greensboro's City Council could have done but didn't, with the help of Warren Buffett's News and Record

"Governor Chris Christie’s pension officials on Wednesday signed off on a major divestment of hedge funds — a move that is expected to save taxpayers and retirees tens of millions of dollars in fees that had been flowing to Wall Street...

...That $3 billion reduction was part of an overall reduction of pension investments in higher-risk “alternative investments” that generate big fees, but whose returns have in many cases failed to keep pace with low-fee stock index funds..."

Overpriced actively managed funds, only different

Then, City Council set up Mary Vigue, 
who spearheaded the betrayal of the City's employees
to oversee the skimming of tens of millions for Say Yes to Education
and the High Point and Greater Greensboro Community Foundations