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:
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.