After four weeks – upon being called out – the Herald-Leader decided to publish Chris Tobe’s letter to the editor comparing JPMorgan’s billions of dollars in losses to the $100+ million in losses by Record Currency at Kentucky Retirement Systems.
While the JPMorgan CEO and his board have yet to give back any of their sweet cash, the Record Currency board is taking a 10% pay cut.
Things must be pretty bad at the KRS’ currency manager?
Nearly every pension plan except the KRS plans on suing them over excessive currency losses.
But you’re hearing nothing about the losses and shenanigans in Kentucky.