General Discussion

1StrongBlackMan

(31,849 posts)

30. That is not at all ...

Mon May 5, 2014, 03:10 PM

May 2014

what I am saying. In fact, based on the article (and disclosures), it's fairly apparent that there has been a BoFD. However, I doubt, at this point, there is evidence of criminal wrong doing; only Civil wrong-doing.

I believe, and have argued on this board, in general, the best resolution for these kind of violations are NOT to send someone to jail; but rather crawl back any and all profits, payments, fees wrongfully collected. In this case, pension-fund participants should file the tort (naming the trustees, personally) and compelling disclosure of the funds' terms and demanding disgorgement.

The way you stop the systemic abuse is not to go after the people taking advantage (there will always be those looking to make a shady buck); but to remove the profitability of taking advantage.

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Highlight:

David Sirota: Leaked Docs Show How Wall Street Extracting Massive Fees from Public Pension Systems [View all] Hissyspit May 2014 OP

du rec. xchrom May 2014 #1

Funny! I had a weird dream last night. JDPriestly May 2014 #2

They should be prevented from stealing from the abelenkpe May 2014 #13

That's what Pete Peterson want to do to you. Enthusiast May 2014 #52

Welfare for the Wealthy! Octafish May 2014 #3

+1 blkmusclmachine May 2014 #41

Damn coward leakers with stripper poll dancer girl friends. L0oniX May 2014 #4

Not leaker's but traitors. zeemike May 2014 #5

racketeer class or government ...what's the dif n/t L0oniX May 2014 #8

The same difference between the Mafia boss and the soldiers I guess zeemike May 2014 #22

+1 blkmusclmachine May 2014 #42

+1...what you said. freebrew May 2014 #6

Fucking thieves..tell me how they are not. n/t Jefferson23 May 2014 #7

1 of the 14 signposts of a fascist government: blkmusclmachine May 2014 #43

DOJ Holder is sending FBI agents to Ichingcarpenter May 2014 #9

shouldn't the focus of your ire but ... 1StrongBlackMan May 2014 #14

No.... It is Securities Fraud Ichingcarpenter May 2014 #24

No, It's not ... 1StrongBlackMan May 2014 #25

Pension funds are commonly known as 'dumb money' closeupready May 2014 #10

bump... nt Jesus Malverde May 2014 #11

Until these criminals are sent to prison malaise May 2014 #12

Sent to prison for what crime? ... 1StrongBlackMan May 2014 #15

People who handle pension fund money at any length should owe a fiduciary duty to the JDPriestly May 2014 #16

Breach of fiduciary duty is a tort (i.e., Civil wrong) ... 1StrongBlackMan May 2014 #19

In other words, corruption is designed into the system. ronnie624 May 2014 #29

That is not at all ... 1StrongBlackMan May 2014 #30

Unfortunately, this country defines theft strictly as person to person theft. haele May 2014 #26

thanks for that post LittleGirl May 2014 #27

+1 erronis May 2014 #33

wow, that's a lot of good info... druidity33 May 2014 #35

It pays to be a part of the family blkmusclmachine May 2014 #44

It's like robbing the blind. nt Snotcicles May 2014 #17

Yes, that is a very fitting metaphor. closeupready May 2014 #18

There are no limits to the depths they'll stoop. nt Snotcicles May 2014 #20

Some will rob you with a six-gun, And some with a fountain pen. Woody Guthrie Tierra_y_Libertad May 2014 #21

Google "Borzi," as in Phyllis Borzi, the Assistant Secretary of Labor for Employee Benefits Security mahatmakanejeeves May 2014 #23

The 1% keeps growing powerful Jemon May 2014 #28

chris and rachel should be all over this tonight. go david sirota! eom ellenfl May 2014 #31

Gee...ya think this game is rigged? bvar22 May 2014 #32

".. if we all vote for Hillary, she'll straighten this out!" blkmusclmachine May 2014 #39

Right! Enthusiast May 2014 #51

I have total faith in Hillary's commitment to the public despite the $200k speaking engagements. pa28 May 2014 #45

And just to remind everyone, Blackstone was founded by Pete Peterson... JHB May 2014 #34

Imagine that. Enthusiast May 2014 #50

This message was self-deleted by its author blkmusclmachine May 2014 #36

We've known about this for years. But we elect the people who write the laws jtuck004 May 2014 #37

+1 Enthusiast May 2014 #49

MUST. blkmusclmachine May 2014 #38

HUGE K & R !!! - Thank You !!! WillyT May 2014 #40

Wall Street, the banks, the oligarchs, the recipients defacto7 May 2014 #46

Blackstone.... defacto7 May 2014 #47

This is an example of Enthusiast May 2014 #48

No it wouldn't ... 1StrongBlackMan May 2014 #53

Except the corporations have unlimited funds and unlimited time. Octafish May 2014 #54

I fail to understand your point ... 1StrongBlackMan May 2014 #55

Things from the states eventually get kicked up to SCOTUS. Octafish May 2014 #56

But these suits wouldn't be "little guys" ... 1StrongBlackMan May 2014 #57