Synchronize Your Watches…

June 8, 2009

(Guest Post by Matthew Ladner)

James Sherk and Dan Lips point out that the Obama administration is lowering the amount of transparency for unions even as the Indiana swindle unfolds.

Meanwhile the NEA seems to have shifted its position from “we will take care of this” to “it sucks to be you disabled teachers” back to “we will take care of this.”

Synchronize your watches for 15 minutes and we will see what they say next.

Indiana Teacher Union Implodes like a Freddie

May 21, 2009

(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!!