POB = Wall Street snake oil

David Crane  |  July 30, 2021

Open letter to elected officials by David Crane, includes “We keep hearing about cities considering a Wall Street proposal to issue debt to fund supplemental pension contributions to city pension funds. They should not do so. … Politicians like these bonds because constituents are falsely led to believe that pension obligations have been reduced …  Economically only two things happen: an increase in debt for taxpayers and an increase in fees for Wall Street.”

Read the full article on: Govern for California

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