South Carolina Pension Shifts Assets Into “Alternative Investments” – Disastrous Performance Follows

by Michael Krieger
Liberty Blitzkrieg

[…] One of the largest, most destructive scams I’ve ever come across in the financial sphere (and that’s saying a lot), relates to the purposeful shift of state pension fund assets into opaque, shady, punitive and one-sided relationships with “alternative investment” managers, specifically hedge funds and private equity firms.

But don’t take my word for it, this is what former SEC official, Andrew Bowden admitted back in 2014:

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