Kentucky Fried Pensions: Worse Than Detroit Edition
THIS VERSION IS Historic covering 2006-2013 Kentucky Fried Pensions 2018 covers 2013-2018 This book follows my journey as the first public SEC whistleblower as I attempt to use the new Dodd-Frank law to clean up the culture of cover-up and corruption in Kentucky Pensions. It explores the national links between corruption in investments via placement agents and corruption in underfunding that plague states like Illinois and Kentucky. It explores the Kentucky Employee Retirement System (KERS) for State Workers the worst funded state plan in the country (worse than any single IL plan) and how others can learn from its current death spiral. It also discusses the need for a Federal Bailout which is currently being discussed for Detroit and Chicago. It looks into the lack of transparency as evidenced by no disclosure of holdings in SAC Capital buried in a Blackstone fund for nearly a year after the scandal broke. It connects a placement agent network to New Mexico, California (CALPERS) Illinois, New York, Connecticut and Rhode Island. The book has received glowing reviews in Forbes and Public Sector Inc. and has made the non-fiction bestseller list in Kentucky This new and expanded 2nd Edition provides updated coverage of Kentucky's ongoing pension funding crises and provides comparison with those of Detroit and Rhode Island.
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