.jpg)
(Guest Post by Matthew Ladner)
AIG, Bear Stearns, Freddie, Fannie, and now….the Indiana State Teachers Association!
The National Education Association has taken over the operations of the ISTA, its’ Indiana affiliate, due to “financial distress.” ISTA’s medical and long-term disability insurance fund is projecting a $67 million deficit and is on the brink of bankruptcy due to very questionable investment management. For instance, in a nine month timeframe, over 4,000 investment trades were made, many of which were in high-risk equities.
Question for Leo: when do we start that LLC? The fire-sale has begun! A mere $67m to buy a controlling interest in the political overlords of Indiana K-12 policy is cheeeeeeap!!
In the ISTA’s defense, they were set to have their teachers receive priority money over the Chrysler bankruptcy until Obama’s plan gave priority to another union (click name for link).
Ryan, you are incorrect – the article you referred to mentions the indiana state retirement fund, which is the govt run retirement fund – this is different from the ista-run disability program that is at being investigated by the authorities for various misdeeds. they are two separate orgs.