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Thursday, March 15, 2012

"Kentucky State Pension Contacts SEC Regarding Millions Paid to "Secret Agents"

From Forbes

........"approximately $14 million in undisclosed payments made in connection with the state pension’s investments—millions secretly paid to agents that provided little or no services to the pension—should be recovered. In my opinion, which should come as no surprise (since I am a former SEC attorney), public pensions cannot afford and should not be paying “secret agents” millions for doing virtually nothing."

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