Investors then pay those higher fees for “ever riskier rolls of the dice,” in an effort to chase returns, which “has resulted, predictably, in worse performance.”Follow the trail into stadium and we see the same influence requiring union contracts and regulated wages. Go deeper into teacher unions and find them delivering the one sided views on many issues to local kids and parents. In California, unions are a big, states rights enabled, restriction on legislation.
Siedle also said oversight boards making decisions are staffed by people — think policemen and teachers — with no experience managing portfolios. Many of these pensions are rarely audited and heavily influenced by politics.
“Pet projects, such as sports stadiums, get funded to disastrous results,” he said, “while making local politically-connected ‘friends of the pension board’ rich.”
Then, at the turning point, all these restrictions can't make the turn, like sand in the gears, we break and have commutative property time. The SEC lawyer mentions decades, I mention 15 years; that is the Euler path. But when we know that path, we know the complete sequence, we can re-arrange order.
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