All or nearly all pension plans are invested in Wall Street.
From: "Bhairitu noozg...@sbcglobal.net [FairfieldLife]" <FairfieldLife@yahoogroups.com> To: FairfieldLife@yahoogroups.com Sent: Monday, June 20, 2016 12:51 PM Subject: Re: [FairfieldLife] Scandal in Oakland, CA Police Department To have these overblown pension funds Wall Street had to be in on it. Local governments and unions lack the expertise to implement anything like that. Remember that Dubya wanted to turn over Social Security to Wall Street. What will happen is the promised pensions won't be there when many of these people retire. You do have to wonder though why someone didn't ask "how is this even going to work?" The answer would have been "well hell, it's boom time forever." On 06/20/2016 10:34 AM, Mike Dixon mdixon.6...@yahoo.com [FairfieldLife] wrote: Ahem... It's not Wall Street that makes the promises. It's the unions and the cities. The Police officers unions demand it. The cities have no choice but to go along with the demand, while kicking the can down the road to the next administration to fix. From: "Bhairitu noozg...@sbcglobal.net [FairfieldLife]" <FairfieldLife@yahoogroups.com> To: FairfieldLife@yahoogroups.com Sent: Monday, June 20, 2016 10:56 AM Subject: Re: [FairfieldLife] Scandal in Oakland, CA Police Department They pay well and get lured to sign on the promise they'll keep getting paid well into retirement which of course is ludicrous. That was just a scheme that Wall Street cooked up to get their hands on that pension money. Pensions weren't meant to keep paying you what you earned when working but instead to help out in old age. Trying to fund those accounts is crippling city governments. On 06/20/2016 05:00 AM, Mike Dixon mdixon.6...@yahoo.com [FairfieldLife] wrote: Well, they don't pay that much and then there are all kinds of considerations involved in hiring, like *diversity* etc. You get what you pay for. I'm not saying minorities are less intelligent, I;m saying there are higher priorities. From: "Bhairitu noozg...@sbcglobal.net [FairfieldLife]" <FairfieldLife@yahoogroups.com> To: FairfieldLife@yahoogroups.com Sent: Sunday, June 19, 2016 9:47 PM Subject: Re: [FairfieldLife] Scandal in Oakland, CA Police Department The scandal was apparently going on in some of the other communities is the Bay Area. This is what happens when you hire stupid people as cops. They don't like to hire smart people. Don't believe me, ask your local DA. On 06/19/2016 04:47 PM, jr_...@yahoo.com [FairfieldLife] wrote: The city loses three of its police chiefs in 9 days. 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