The Trump administration is quietly proposing to rescind a 16-year-old rule enacted to prevent “pay-to-play” schemes involving investment advisers and public pension funds.
I'm sure this rule change has nothing to do with the upcoming midterms and Republicans' narrow majorities in the House and Senate. Absolutely nothing. 🙄
Hubris is the only explanation. Except abject stupidity, maybe?
The GOP and Trump2 KNOWS that corruption investigations are going to be possibly the single biggest Dem Congressional emphasis starting in Jan '27, until the 2028 GE.
And they just handed us a big slab of red meat. Further proof that: GOP = Corruption.
George Conway of the Bulwark: “To destroy things (Trump) can’t possess or control is his essential nature.” Depravity, corruption, destruction...
When the law; the facts & science don’t matter; when criticism of or resistance to the MAGA con, grift, extortion & thuggish violence is a criminal conspiracy…
Popular Information should be renamed whack-a-mole. It is a game of how quick can corruption seep into our society without anyone noticing. It took 14 days from the time of this SEC ruling for Popinfo to find it. How quickly do you think that pension funds in various parts of the country are jumping to use and abuse this new directive? And, please, white men, stop complaining you are being victimized when day after day it is YOU who are taking and breaking.
Corruption is human frailty. Laws and rules help deter it. When a bi-partisan commission is missing members due to a refusal of an elected official to appoint them, I don't believe rules adoption, changes, or removal should be allowed. Strong laws and fines must be enacted for elected officials who refuse to appoint members. But laws are rarely perfect and often have loopholes. Such is the world of laws and crimes.
Private Equities AKA Robber Barons living under the cloak of "advisers".the entities that buy up companies and steal the pensions.. those workers end up living on the streets when they retire... there is no blood running through these robbers they are monsters
There is absolutely no reason to repeal this rule except that the current government is composed of the class who engage in this sort of activity. Interesting how Leon Black was involved.
Remove this law & watch public pensions tank while the big boys walk away with the $$. Every guardrail is crucial. Here’s what happens when another one was ignored. I believe the same thing would happen more broadly if this rule is ‘rescinded.’
KY public employees (city & state) wound up going from a well funded public pension plan to one of the worst in the country. There were a few things that sped up the descent, (demonizing teachers and public employees for one thing) but former Gov Bevin putting hedge fund managers on the board & the board hiding their moves was at the heart of it.
(The same former governor Bevin who lost his bid for a 2nd term to Andy Beshear & was recently jailed for unrelated issues. His running mate for Lt Gov on the losing ticket went to TN and returned recently to run for Congress.)
“The firms sold funds that were “extremely high-risk, secretive, opaque, high-fee and illiquid vehicles,” leaving KPPA in poor financial shape, according to the suit. KPPA today faces an unfunded pension liability of $25 billion.
Once key rules erode, anything can happen. Bevin supporters point to his reductions in pension benefits & protections as “saving” the public pensions. The public outcry did lead to more state funds being used to shore up the pensions. But not before retiree healthcare funds had also been depleted by declaring a surplus & repeatedly moving a portion to the state General fund.
There’s more than one rotten apple looking at pockets of money to transfer to themselves.
So sick of the corruption in our country. I plan to submit public comment opposing this.
I haven't found a position on this proposal from any of the financial institutions with which I do business. So am sending requests for their position along with links to the release and your article.
Still no sign of push back from my financial institutions. Not surprised, they are probably just looking forward to bribing for business.
If anybody else wants to join in before the deadline for public comment you can let the SEC know how you feel about this instance of their efforts to legalize corruption and let them know we are watching.
This is ALL part of the Project 2025 Playbook to undermine and destroy America. And giving Billionaires MORE access to OUR MONEY and take MORE control of our lives and futures! These monsters will stop at nothing to strip Americans of every right and freedom and penny they can. That is why it Vital to our survival as America to shine a Bright Light on this Corruption and vote OUT every single Republican everywhere in America and then fix the mess AND hold them ALL accountable. They are doing the Crime and they MUST do the time!!!!
So, one of these Pay-to-Play schemes was funded by Leon Black...who was closely tied to Jeffrey Epstein and is now facing contempt of Congress for failing to address their subpoenas.
Amazing how often the same people keep turning up in criminal settings.
Make America Grift Again
I'm sure this rule change has nothing to do with the upcoming midterms and Republicans' narrow majorities in the House and Senate. Absolutely nothing. 🙄
Hubris is the only explanation. Except abject stupidity, maybe?
The GOP and Trump2 KNOWS that corruption investigations are going to be possibly the single biggest Dem Congressional emphasis starting in Jan '27, until the 2028 GE.
And they just handed us a big slab of red meat. Further proof that: GOP = Corruption.
This is what happens when the "Grifter-in-Chief" appoints people to the SEC.
I don’t want to hear another diss on Biden.
It will take decades(&maybe never)to clean up the Trump mess. Reprotect the safety net. Repair relationships
George Conway of the Bulwark: “To destroy things (Trump) can’t possess or control is his essential nature.” Depravity, corruption, destruction...
When the law; the facts & science don’t matter; when criticism of or resistance to the MAGA con, grift, extortion & thuggish violence is a criminal conspiracy…
Please, bring on a Blue Tsunami. #VoteBlue!”
Popular Information should be renamed whack-a-mole. It is a game of how quick can corruption seep into our society without anyone noticing. It took 14 days from the time of this SEC ruling for Popinfo to find it. How quickly do you think that pension funds in various parts of the country are jumping to use and abuse this new directive? And, please, white men, stop complaining you are being victimized when day after day it is YOU who are taking and breaking.
Every Trump appointee to every Federal regulatory agency has one goal: deregulate.
Corruption is human frailty. Laws and rules help deter it. When a bi-partisan commission is missing members due to a refusal of an elected official to appoint them, I don't believe rules adoption, changes, or removal should be allowed. Strong laws and fines must be enacted for elected officials who refuse to appoint members. But laws are rarely perfect and often have loopholes. Such is the world of laws and crimes.
Of course this is pay to play but what’s to stop one of these shysters from making a donation in their wives name or in the name of their au pair?
Do you mean wife and second wife?
Of course 😂
Private Equities AKA Robber Barons living under the cloak of "advisers".the entities that buy up companies and steal the pensions.. those workers end up living on the streets when they retire... there is no blood running through these robbers they are monsters
There is absolutely no reason to repeal this rule except that the current government is composed of the class who engage in this sort of activity. Interesting how Leon Black was involved.
Remove this law & watch public pensions tank while the big boys walk away with the $$. Every guardrail is crucial. Here’s what happens when another one was ignored. I believe the same thing would happen more broadly if this rule is ‘rescinded.’
KY public employees (city & state) wound up going from a well funded public pension plan to one of the worst in the country. There were a few things that sped up the descent, (demonizing teachers and public employees for one thing) but former Gov Bevin putting hedge fund managers on the board & the board hiding their moves was at the heart of it.
(The same former governor Bevin who lost his bid for a 2nd term to Andy Beshear & was recently jailed for unrelated issues. His running mate for Lt Gov on the losing ticket went to TN and returned recently to run for Congress.)
“The firms sold funds that were “extremely high-risk, secretive, opaque, high-fee and illiquid vehicles,” leaving KPPA in poor financial shape, according to the suit. KPPA today faces an unfunded pension liability of $25 billion.
Once key rules erode, anything can happen. Bevin supporters point to his reductions in pension benefits & protections as “saving” the public pensions. The public outcry did lead to more state funds being used to shore up the pensions. But not before retiree healthcare funds had also been depleted by declaring a surplus & repeatedly moving a portion to the state General fund.
There’s more than one rotten apple looking at pockets of money to transfer to themselves.
https://www.kentucky.com/news/politics-government/article250862854.html#storylink=cpy
The fraud and collusion reeks and if I were a betting man, the SCOTUS would bless this 6-3!
So sick of the corruption in our country. I plan to submit public comment opposing this.
I haven't found a position on this proposal from any of the financial institutions with which I do business. So am sending requests for their position along with links to the release and your article.
Still no sign of push back from my financial institutions. Not surprised, they are probably just looking forward to bribing for business.
If anybody else wants to join in before the deadline for public comment you can let the SEC know how you feel about this instance of their efforts to legalize corruption and let them know we are watching.
https://www.sec.gov/comments/s7-2026-31/political-contributions-certain-investment-advisers#no-back
This is ALL part of the Project 2025 Playbook to undermine and destroy America. And giving Billionaires MORE access to OUR MONEY and take MORE control of our lives and futures! These monsters will stop at nothing to strip Americans of every right and freedom and penny they can. That is why it Vital to our survival as America to shine a Bright Light on this Corruption and vote OUT every single Republican everywhere in America and then fix the mess AND hold them ALL accountable. They are doing the Crime and they MUST do the time!!!!
So, one of these Pay-to-Play schemes was funded by Leon Black...who was closely tied to Jeffrey Epstein and is now facing contempt of Congress for failing to address their subpoenas.
Amazing how often the same people keep turning up in criminal settings.