Raimondo’s pension cuts benefited hedge funds more than RI, says Brown
Democratic gubernatorial candidate Matt Brown attacked pension cuts for state employees dating back to Governor Raimondo’s previous role as state treasurer at a town-hall style “Restore Our Pensions” event at the WaterFire Arts Center in Providence on Monday evening. The event came mere hours after WPRI published polling results showing Brown lagging behind in name […]
Nurses protest at court, Diocese over pension failure
For retired nurses Horan and Battey, the crisis in their pension has also caused a crisis in their faith. They refuse to give any more money to the church until they are made whole.
Back to basics: RI will switch from costly, risky hedge funds
I spoke to Seth this afternoon about his new plan for the pension funds which was unanimously approved today by the State Investment Commission.
RI Progressive Dems urge Clinton to withdraw Raimondo appointment
Raimondo’s politics represent an brand of conservatism well to the right of basically anyone of prominence in the national Democratic party.
Democratic Party platform frowns on Raimondo-style pension cuts
Secretary of State Nellie Gorbea described it as “the most progressive platform ever put forward by an American political party.” Sen. Bernie Sanders said, “Our job now is to see that platform implemented by a Democratically controlled Senate [and] a Democratically controlled House.” Yet one small detail might have Gov. Gina Raimondo nervous. In between […]
Labor concerns over RI’s GEM Realty investment
The RI State Investment Commission voted to invest $20 million with GEM Realty Capital, despite the company’s claim that the health and safety of employees at the Sofitel Los Angeles Hotel in Los Angeles, one of the many properties owned by the company, is not something they can have any affect on.
New York and California divested pensions from hedge funds, can RI?
California, the state Gov. Gina Raimondo was visiting for a fundraiser to promote her pension policies, and New York have recently divested from high-risk, high-cost hedge funds like those the Rhode Island fund invests in. One New York City official in an April 14 Reuters story said of hedge fund managers, “Let them sell their […]
How is Raimondo’s pension policy impacting retirees?
Sources within the Rhode Island public sector retirees community have come forward with a survey, taken of a demographic of former public sector employees, that is striking in conclusions for the wider public sector retiree population and future ones. The survey of the Rhode Island Retired Teachers’ Association was sent to 603 members and 247 […]
The sudden need to defend Raimondo’s pension plan is intriguing
Democratic Party Chair Joe McNamara should be seriously interrogated for this: he is supporting the impoverishment of senior citizens while the Governor seemingly profits off the shady and not-so-blind trust that the pension is invested in.
Raimondo’s pension plan has cost up to $2 billion so far
When Gina Raimondo told voters that the public pension fund was in trouble, she promised to save taxpayers $4 billion over the next 25 years. But after reviewing the more recent audit by Ted Siedle, it is apparent that promise has not come true and instead up to half of that promised savings has gone into the pocket of Wall Street.
How we all will pay for Raimondo’s pension “reform”
It is time to talk seriously not just about the case of the missing COLAs but what is going to happen when people cannot dip into their savings anymore to make up the difference in their monthly budgets.
An interview with Ted Siedle about the myth of Gina Raimondo, working class hero
For years, Gina Raimondo has engineered a deceptive image for herself as a working-class Rhode Islander who broke out of the blue collar and got lucky while staying loyal to her proletarian roots. In one of her campaign ads, she goes for the heart by wandering around the factory her retired father worked at, pulling […]
Why wait for the feds when AG Kilmartin can use the RICO Act against Raimondo’s pension scheme?
Since the publication of Ted Seidle’s letter to various federal agencies regarding the Raimondo pension policies, the operative question has been when will the feds come knocking on Smith Hill? It is clear that Raimondo is desperate to rebuild her reputation with unions, hence the push for the union-friendly RhodeWorks project. But why wait when […]
Follow the money on Raimondo pension scheme: Is Providence bankrupt?
For some weeks now, there has been a great deal of conversation around the idea that Providence is on the verge of bankruptcy. A new rule regarding budget statements is key t0 understanding why.
Follow the money on Raimondo pension scheme: the local sponsors
Remember back when all the important people were lining up in droves to support then-Treasurer Raimondo’s pension policies under the false advertising of a crisis? Wouldn’t it be great if we could go back in time to look at who played along, willingly or unwillingly, in what is turning out to have been a complete […]
Follow the money on the Raimondo pension scheme: Marvin Rosen
To delve into the history of Mr. Rosen is to journey into the dark underbelly of the Democratic Party…
Follow the money on Raimondo pension scheme: John Arnold
The Raimondo pension scheme is just a test run of a larger agenda. If this is left to stand, it would clear the way for the privatization of Social Security and the total defenestration of the social safety net dating back to the New Deal years.
FBI, SEC & US Attorney’s Office asked to investigate Raimondo’s pension policies (UPDATED)
At this pivotal moment when $1 trillion in public pension assets are at risk nationally, regulators and law enforcement must pierce the veil of secrecy, examine the myriad forms of commonplace alternative industry wrongdoing, and craft an effective response to protect government workers retirement security—before the ten-year looting cycle has been completed.
David Sirota goes after Raimondo on hedge funds with new allegations
“When they dug deeper, they stumbled onto an even more disturbing revelation. What they found, they say, is evidence that some investors can obtain special rights that may let them secretly siphon money from the state pensioners’ retirement savings.”
Business leaders decide issues elected officials will pursue at economic summit
“Your participation at this Summit will essentially decide… the direction of [economic and business] issues that are going to be critical to you over the next year.” said Mark Hayward, District Director of the Rhode Island Small Business Association.
New Comments