Wall Street Fees Wipe Out $2.5 Billion in New York City Pension Gains
Posted: Thu Apr 09, 2015 1:05 pm
Man, I just had to post this!
97% of the gain above the expected return went to management fees.
[quote=http://mobile.nytimes.com/2015/04/09/ny ... gains.html]The Lenape tribe got a better deal on the sale of Manhattan island than New York City’s pension funds have been getting from Wall Street, according to a new analysis by the city comptroller’s office.
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97% of the gain above the expected return went to management fees.
[quote=http://mobile.nytimes.com/2015/04/09/ny ... gains.html]The Lenape tribe got a better deal on the sale of Manhattan island than New York City’s pension funds have been getting from Wall Street, according to a new analysis by the city comptroller’s office.
[/quote]
