Pew Trusts: Untrustworthy Public Pension Destroyers
When a name most people associate with trust and credibility joins with a billionaire ex-Enron trader and hedge fund manager to destroy public pensions for their own benefit, the overall sense of corruption and betrayal becomes both palpable and intense. Billionaire John Arnold uses the sterling reputation of Pew Trusts as his tool of choice for his despicable plot to pillage pensions and destroy the lives of those who rely on them to live simply.
Illinois, Kentucky, Florida and many other states are the targets.
“’We want to bring to your attention . . . the deceptive work that the Pew Center on the States is engaged in across the country in order to promote their cash balance overhaul policy,’ a group of 10 Kentucky state senators and representatives cautioned in an open letter to legislators in other states.”“Critics of that alliance charge that Pew and Arnold share a mission for giving an academic veneer to a partisan belief that the nation’s massive public employee pension funds should be invested directly in costly ‘cash balance’ plans rather than be professionally managed as traditional defined benefit plans by the public agencies that currently administer them.”
“Pew may be mostly known for its financial support of PBS programs, which has given the foundation the kind of publicity that reflects the self-described ‘non-partisan and non-ideological’ nature of Pew’s work… Yet Pew has