There's nothing more discouraging than seeing a municipal employee pension that?s cleaned up its act revert to bad behavior. All-too-often, in my experience, this is precisely what happens-- usually within 3 to 5 years of the fix. Absent eternal vigilance, powerful economic interests, aka Wall Street, can be counted on to both recommend and eventually succeed in selling, opaque, high-risk, high-fee products to the unsophisticated.
There's nothing more discouraging than seeing a municipal employee pension that?s cleaned up its act revert to bad behavior. All-too-often, in my experience, this is precisely what happens-- usually within 3 to 5 years of the fix. Absent eternal vigilance, powerful economic interests, aka Wall Street, can be counted on to both recommend and eventually succeed in selling, opaque, high-risk, high-fee products to the unsophisticated.
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