David Sirota Archive

Wall Street to Workers: Give Us Your Retirement Savings and Stop Asking Questions

David Sirota Author, Radio Show Host, Columnist

Wall Street to Workers: Give Us Your Retirement Savings and Stop Asking Questions

If you are a public school teacher in Kentucky, the state has a message for you: You have no right to know the details of the investments being made with your retirement savings.

That was the crux of the declaration issued by state officials to a high school history teacher when he asked to see the terms of the agreements between the Kentucky Teachers’ Retirement System and the Wall Street firms that are managing the system’s money on behalf of him, his colleagues and thousands of retirees.

The denial was the latest case of public officials blocking the release of information about how billions of dollars of public employees’ retirement nest eggs are being invested. Though some of the fine print of the investments has occasionally leaked, the agreements are tightly held in most states and cities. Critics say such secrecy prevents lawmakers and the public from evaluating the propriety of the increasing fees being paid to private financial firms for pension management services.

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Sure, Bigwigs Want Labor Rights—But Only for Themselves

David Sirota Author, Radio Show Host, Columnist

Sure, Bigwigs Want Labor Rights—But Only for Themselves

Technology, sports and politics are distinct worlds. They have their own junkies, their own vernaculars and their own peculiar customs. Yet, in recent weeks you may have noticed a common economic argument coming from those worlds’ respective leaders—an argument about who should have a right to engage in collective action and who should not.

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Stronger Together

Stronger Together