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Some Kentucky Retirement Systems Junk For Your Day

October 10th, 2012 · 1 Comment

Remember Rick Perry’s buddy who paid $700,000 to Kentucky’s favorite placement agent?

Well… Commerce Street Partners fell of a cliff. 13.9% in a single month (August), according to Kentucky Retirement Systems (Warning: External PDF Link).

While the money isn’t huge, the percentage is off the charts. Its benchmark was up +0.79% for August (Warning: External PDF Link).

This guy in Dallas has written quite a bit about Dory Wiley of Commerce and placement agents in Texas.

And you’re still wondering why Kentucky can’t have nice things.

Tags: Corruption · Flashback

1 response so far ↓

  • 1 Ed Marksberry // Oct 10, 2012 at 5:01 pm

    You have to wonder why legislators didn’t fully fund KRS or at least increased their funding sooner; did they think (at the time) that the investment market conditions would cover the spread? It seems around 2002 is when they started underfunding (according to what the actuaries said was needed), what were they thinking?