The thing I do not get, Rahm chose this guy to be in charge of people's pension money. People rightly flip out when their pensions get wrecked. They put no connection between this kind of cronyism and the harmful results that they suffer.
This is just one of a million reasons I hate pensions relative to IRAs. I do not want my financial health in my old age in the hands of corrupt or incompetent cronies, politicians, or anyone that has nothing to lose compared to what I do if they screw it up. What am I going to do, work another 20 or 30 years to make it back?
A politician thinks of the next election; a statesman of the next generation. A politician looks for the success of his party; a statesman for that of the country. The statesman wished to steer, while the politician was satisfied to drift.