Former Treasurer of Pennsylvania, @USUN Ambassador, @ConstitutionCtr Pres., and always proud public servant and builder of communities.
Philadelphia, PA
Joined October 2011
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A great day to reread the Declaration of Independence…”that whenever any form of government becomes destructive of these ends, it is the right of the people to alter or to abolish it…” (1/6)
“He has excited domestic insurrections amongst us”nbcnews.com/news/amp/rcna216… (5/6)
I am disappointed but not surprised that PSERS is once again taking this unfortunate approach to resist transparency. Pennsylvania law is clear: @SenatorMuth and all PSERS board members have an absolute right to review documents to perform their fiduciary duty.
Every member of the board is entitled to these public records that Senator Muth is seeking, and I stand by her.
einnews.com/pr_news/54332240…
I fired them because they don't work well for taxpayers.
Hedge funds add a needless level of complexity, fees, and--as we’ve now seen again--risk. In fact, tons of research shows the only people that hedge funds consistently work well for are the hedge fund managers themselves.
Promises to consistently “beat the market” (for a hefty fee) are modern day snake oil. Doesn’t work in the long run, and last year’s results don’t predict next year’s. Those truths won’t ever stop some managers from spreading the lie that *they* have the special sauce.
Lots of talk about hedge funds this week, amazingly the one-year-two-month-and-one-week anniversary of when I fired hedge funds at Treasury!
Sure, this tweet would be more orderly if it was exactly one year ago. But, just saying…gotta celebrate those special occasions.
Robin Hood: a beloved children's story where an outlaw robs from the rich to give to the poor.
Robinhood: a business with a model where an app robs from nearly everyone to make its owners rich.
Our teachers work hard and pay into their pension fund, @PA_PSERS.
PSERS then puts around a billion dollars with Apollo.
Apollo then pays more than $150 million to Jeffrey Epstein.
If you think this system is a disgrace, that's because it is.
nytimes.com/2021/01/25/busin…
Even with calls for resignations becoming so common, I *am* unequivocally calling for the resignation of Rep. Scott Perry.
But for a man shameless enough to lead a plot to overturn an election, I doubt we will see a conscience suddenly develop.
In a functioning democracy, we don't try to overturn elections because we don't like the result. We don't plot to oust officials who are in the way.