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I don't think that the pension managers were sophisticated, but rather were idiots. They went to world class bankers to deal with the money, who did a world cl
by downandout 12y ago
I don't think that the pension managers were sophisticated, but rather were idiots. They went to world class bankers to deal with the money, who did a world class job of creating an awesome fee structure for themselves.
- VikingCoder 12y agoSo then who put idiots in charge of a $160B pension? And why did they do it? Not expecting an answer from you - I'm saying these become the questions I want answers to.