So… that rumored report about Kentucky Retirement Systems we mentioned yesterday?
Turns out that all hell really is breaking loose in Frankfort this week.
CLICK FOR PDF REPORT
The past couple years we’ve spent discussing the KRS here will likely have been in vain. Primarily because Frankfort does not care about doing the right thing.
But it looks like we were spot-on when it came to our concerns that the state auditor’s KRS/placement agent shenanigans were a literal whitewash.
The 32-page report indicates that the Auditor of Public Accounts’ examination was, uh, extremely flawed and its independence was questionable at best. Numerous untrue statements regarding placement agents and numerous omissions of the facts. The audit was so biased toward the KRS management, in fact, that it smells like the both the SEC and FBI investigations will be broadened to include those responsible for the audit. Other areas of state government could also be pulled in.
Is this the next BOPTROT?
Because the get out of jail free card is slowly disintegrating.
UPDATE: Yes, most of this report is for the personal vindication of Chris Tobe, who has spent the past couple years begging people to write about the KRS scandal. Yes, it’s probably (mostly?) built for his ego and personal gain. Yes, it’s produced by his attorney who is paid for with your tax dollars. But take it for what it is: an opportunity to reexamine the KRS whitewash and the ongoing shenanigans in Frankfort.
You can say what you want about him but the KRS facts don’t change. So remove Tobe from the argument – because he’ll eventually be ousted from the KRS board by the more corrupt folks, anyway.
The facts remain: the KRS mess is still a nightmare, the Beshear crew are still trying to sweep it all under the rug, Crit and crew played pat-a-cake by knowingly not asking questions that needed to be asked and it all boils down to people getting rich.
Now you know why the feds are continuing to dig around.