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 become a key player in one of America’s most partisan issues as cities and states tackle the complex problems involving public worker pensions. Pension reformers present their cause as a bipartisan good-government crusade, but a visitor landing on the website of nearly any one of this movement’s myriad organizations quickly falls down a rabbit hole of interlocking conservative organizations — whose unifying theme seems to be reflexive hostility toward workplace protections and the union contracts that guarantee them.”
“And the head of the largest trade association for public sector plans finds serious flaws in Pew’s figures. Hank Kim, executive director and counsel of the National Conference on Public Employee Retirement Systems, says that ‘generally our position is that we are very disappointed in Pew. Since 2010, we’ve expressed to Pew that its methodology for reports is flawed. Their reports incite fear.’”
Read the full Salon article HERE.
There is an extremist War Against Public Service employees – active and retired teachers, firefighters, law enforcement officers, and many others entrusted with keeping civilization intact. Whatever way you make your living or wherever you have saved for a pension or planned for deferred compensation, you should realize that you will be next. Many others have been ripped-off already.
There is an extremist War Against Public Services. Exploiters are attempting to hustle even more public funds into private pockets. Public-Private Partnerships, the much repeated euphemism for privatization, are destroyers of common trust, civic duty and civilized community in their savage quest for amassing enormous private wealth for the very few. John Arnold and Pew Trusts are pillagers who must be stopped. Active and retired public employees must refuse to be willing victims. We are all in this together.