Charlie Crist, Bill McCollum, Alex Sink urged to investigate pension staff
To restore public confidence, an investigation into personal trading activities of all investment staff should be undertaken immediately and the results made public. Nothing short of full disclosure and investigation of any potential related harm should be acceptable to participants and taxpayers.
Personal investing by state government employees responsible for investing public pension assets poses very real dangers. On the other hand, allowing these state employees to engage in such trading provides no real benefit to the funds, participants or taxpayers. Where the risk to the funds and taxpayers is great and any related "reward" nonexistent, prudence should dictate that the conduct be prohibited.
As a Florida taxpayer, I believe it is unjustifiable for the state to risk public pension assets by allowing its employees to personally invest in the shadows. I have written the governor, chief financial officer and the attorney general asking them to investigate.