The New York Times has a reporter ( Patrick McGeehan) who has shown more concern for the pension funds of New York City's public sector workers and demonstrated a profoundly better understanding of the rape of those funds than the leader of the NYC teachers union.
Mr. Michael Mulgrew leader of the NYC teachers union has looked over the ten year performance of his members fund and found it to be "performing well". Mulgrew notes that some of the fees charged for overseeing the pension fund are "ridiculous"... and they need to be addressed if those managers are to keep their posts. Keep their posts?
Digest and hold those thoughts, if you will; the phrases "performing well" and expecting improved performance from the Wall Street agents who managethose funds.
Let's read McGeehan's article ...and meet again below the fold..
and contemplate my "agents" performance...and whose agents actually deserve those big bucks.