Back in April, this segment aired on Chicago Tonight, painting an accurate picture of what our pension and its board members are like. Former Chicago Tribune City Hall beat reporter, Dan Mihalopoulous has covered many pension fund stories including the Mayor's nephews' fund that received money from 4 city pension funds. He now works for the newly created Chicago News Co Op that writes for the NY Times.
The two links below summarize the City of Chicago's Elected Politicians' views toward our pension fund. They do not care what the funding levels are, they merely want the campaign cash from the very same investment managers that they vote on. Keep in mind, whatever money managers donate to the the City Treasurer, they typically donate 10X that amount of cash to Mayor Daley's warchest. Pension Business in Chicago is huge. Investment managers make huge profits off of OUR retirement money.
Chicago Tonight shows a very basic "circle" demonstrating how the City Treasurer operates on our pension fund. This is at 1 minute and 46 seconds. Mr. Mihalopoulous hits the nail on the head describing the City Treasurer's actions.
Chicago Tonight discussing City Treasurer Threatening Libel Suit Against Patrolmen's Rep. Mike Shields. Take 6 minutes and watch this!
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