The corruption and rot was deep and pervasive indeed at the State of New York public pension fund. Alan Hevesi, the former comptroller, is expected to pled guilty to charges resulting from selling access to pension fund investing in return for millions of dollars.
The investigation continues into some big names like Steve Rattner, who led Obama’s bailout of the auto industry, and whose investment fund now disavows his conduct.
If you think New York was an outlier and other state pension funds aren’t equally dirty and corrupt, I invite you to reconsider.