Congressional Report on Central States: Retirees Need Help

[Freightmaster1]

Two interesting observations from the TDU analysis...

1. "The report is skimpy on what broader protection the Consent Order might have afforded participants."

2. "While noting that the CSPF investments were similar to other funds, under the management of Wall Street firms, it does not mention that in 2008, it was Goldman Sachs and Wall Street which drove the economy and our pension fund into the ditch, while enriching themselves. Goldman Sachs was a CSPF fiduciary at that time."

Be sure to read the complete TDU analysis here...

Congressional Report on Central States: Retirees Need Help

 

[jimmy g]

Two interesting observations from the TDU analysis...

1. "The report is skimpy on what broader protection the Consent Order might have afforded participants."

2. "While noting that the CSPF investments were similar to other funds, under the management of Wall Street firms, it does not mention that in 2008, it was Goldman Sachs and Wall Street which drove the economy and our pension fund into the ditch, while enriching themselves. Goldman Sachs was a CSPF fiduciary at that time."

Be sure to read the complete TDU analysis here...

Congressional Report on Central States: Retirees Need Help

(From the article) In addition, the report makes clear there is no fairy godmother who is going to fix things.