A Huge Wall Street Scandal Just Exploded In Kentucky

The suit alleges that the firms misled the state into funneling retirees’ money into investments that were “secretive, opaque, illiquid, impossible to properly monitor or accurately value, high-fee, high-risk gambles with no historical record of performance.” The suit asserts that these were “absolutely unsuitable investments for a pension fund in the particular situation [Kentucky] was in, and violated the applicable laws, codes and standards.”

via A Huge Wall Street Scandal Just Exploded In Kentucky

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