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KRS Running In Circles Over Currency Criticism

July 13th, 2012 · 2 Comments

The latest from Kentucky Retirement Systems will blow your mind.

It’s a 27-page PDF file they released on their website in an attempt to combat negative press. Take a look at the usual bureaucratic crap:

https://kyret.ky.gov/images/uploads/news/Currency_hedging_response_-_website_pdf_version_docx_(2).pdf


CLICK FOR HUGE PDF

This was half put together because of coverage here and by John Cheves and half in response to the ongoing investigation by the Securities and Exchange Commission. As you can see, it’s filled with legaleze and repeatedly runs around in circles.

Here’s what the KRS has to say about it:

There have been several statements in the press recently regarding the former currency hedging program at Kentucky Retirement Systems (KRS) that were very serious and untrue. The following information has been compiled by KRS Chief Investment Officer T.J. Carlson and his team of investment professionals in response.

Yep, they usually say that statements are “untrue.” Instead of saying what specifically is untrue, they go into a tortured, circular defense that leaves your eyes rolling back into your head.

The heat is on and people are paying attention.

Tags: Corruption · Flashback · Investigation

2 responses so far ↓

  • 1 Chris Tobe // Jul 13, 2012 at 9:34 pm

    I wish they would take me to court on all of these supposed “untrue” things I say. They will not because they know it will expose them for what they are. KRS likes to operate in backrooms with the board in closed session where they can manipulate this type of information and cut deals. None of it will stand up out in the open.

  • 2 UKeye // Jul 16, 2012 at 11:18 pm

    Chris,

    As you may have heard, in court it is usually the party with most money and inside connections that wins. KRS people have both.
    Please, wish for another route to prove that you’re right.