Teachers union fights hedge funds on pensions
By: Matthew J. Belvedere | Producer, CNBC's "Squawk Box"
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Sad Loeb wouldn't meet pension trustees: Weingarten
Wednesday, 13 Nov 2013 | 8:49 AM ETDiscussing whether pension funds should invest in funds like Dan Loeb's Third Point, with American Federation of Teachers president Randi Weingarten. She explains why Loeb had trouble with being transparent.
The American Federation of Teachers union is taking on Third Point's Dan Loeb and other big hedge fund managers over pensions.
"What we said to Dan Loeb and other investment managers is that transparency counts," AFT President Randi Weingarten told CNBC on Wednesday.
She was echoing the sentiments of an AFT report titled "Ranking Asset Managers," in which the union wrote: "Many of the organizations attacking defined benefit [pension] plans are funded by hedge fund and private equity managers."
The AFT put together what it called an "Investment Manager Watch List." The union's list consisted of money managers who it claimed "contributed to, or sit on the governing board of, an organization that advocates for the replacement of defined