{"id":182138,"date":"2015-12-10T19:33:00","date_gmt":"2015-12-11T00:33:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2015\/12\/10\/quote-of-the-day-130\/"},"modified":"2015-12-10T19:33:00","modified_gmt":"2015-12-11T00:33:00","slug":"quote-of-the-day-130","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2015\/12\/10\/quote-of-the-day-130\/","title":{"rendered":"Quote of the Day"},"content":{"rendered":"<blockquote><p><span style=\"color: blue;\">Here\u2019s what U.S. state and city pension funds are getting this year for the hundreds of millions of dollars in fees they\u2019re forking over to hedge funds: almost nothing. <\/span><\/p>\n<blockquote><p><span style=\"color: blue;\">\u2014<a href=\"http:\/\/www.bloomberg.com\/news\/articles\/2015-12-09\/hedge-fund-rout-leaves-pensions-with-little-to-show-for-the-fees\">Bloomberg Business<\/a><\/span><\/p><\/blockquote>\n<\/blockquote>\n<p>Private equity and hedge funds have earned lots of money capitalizing on the panic of underfunded public pensions seeking higher returns to deal with chronic under-funding.<\/p>\n<p>There have been no higher returns, but Wall Street has gotten its vig, some of which, of course, gets recycled back to the campaign funds of politicians who might otherwise provide oversight of the pension funds.<\/p>\n<p>As Yves Smith is wont to say, It&#8217;s a, &#8220;Self licking ice cream cone.&#8221;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Here\u2019s what U.S. state and city pension funds are getting this year for the hundreds of millions of dollars in fees they\u2019re forking over to hedge funds: almost nothing. \u2014Bloomberg Business Private equity and hedge funds have earned lots of money capitalizing on the panic of underfunded public pensions seeking higher returns to deal with &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1094,970,1004,1002,1009],"tags":[],"class_list":["post-182138","post","type-post","status-publish","format-standard","hentry","category-campaign-finance","category-corruption","category-finance","category-good-writing","category-government"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/182138"}],"collection":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/comments?post=182138"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/182138\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=182138"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=182138"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=182138"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}