Monday, October 20, 2008

Past time to 'fess up, Frankfort

One might think Kentucky Retirement Systems officials would have put out a press release this morning defending themselves against the blistering they took in the media over the weekend.

Don't hold your breath.

The latest publicly available investment data from June 30, 2007 shows our team of experts was loading up on mortgage backed securities just as the bubble was bursting. No doubt the $27 billion shortfall in the public employees benefits systems is worse than we think.

In order for the public to better assess our options going forward, we need some current info -- not just shut-up-and-let-the-experts-work gibberish -- and we need it now.

No comments: