The other news that is going to, of course, have disastrous consequences down the road, is the heist Ron DeSantis is pulling right now:
Florida governor and Republican presidential hopeful Ron DeSantis has been crusading against “woke” investments for allegedly threatening his state employees’ retirement funds. But the most imminent threat to Florida public employees’ retirement dollars appears to be the massive state pension investments that have gone to some of the Republican Party’s Wall Street donors under DeSantis’ watch.
Despite a federal anti-corruption rule designed to prevent donors from receiving pension investments, private equity executives have donated millions to political groups supporting DeSantis, all while the governor oversaw the transfer of more than $1 billion of Florida public employees’ retirement dollars into these donors’ high-fee, high-risk “alternative investments.”
A Lever review found that had the state pension fund instead been invested in a simple, low-cost index fund, compared to its present mix of holdings, teachers, police officers, and other state employees would have about $10 billion more in their retirement funds.
Wokeness is just the excuse he is using, though:
As Florida Gov. Ron DeSantis positions himself for a presidential bid, his state’s Republican-controlled legislature just sent him a bill that could enrich prospective Wall Street donors he may need to finance his campaign. That includes a GOP mega-donor who DeSantis recently met with as the bill advanced.
We all know how this will end, don’t we? With pensioners and state employees getting the shaft when the shit blows up.