• 619 days Will The ECB Continue To Hike Rates?
  • 619 days Forbes: Aramco Remains Largest Company In The Middle East
  • 621 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 1,021 days Could Crypto Overtake Traditional Investment?
  • 1,025 days Americans Still Quitting Jobs At Record Pace
  • 1,027 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 1,030 days Is The Dollar Too Strong?
  • 1,031 days Big Tech Disappoints Investors on Earnings Calls
  • 1,032 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 1,033 days China Is Quietly Trying To Distance Itself From Russia
  • 1,034 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 1,038 days Crypto Investors Won Big In 2021
  • 1,038 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 1,039 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 1,041 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 1,041 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 1,045 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 1,045 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 1,046 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 1,048 days Are NFTs About To Take Over Gaming?
How Millennials Are Reshaping Real Estate

How Millennials Are Reshaping Real Estate

The real estate market is…

Another Retail Giant Bites The Dust

Another Retail Giant Bites The Dust

Forever 21 filed for Chapter…

  1. Home
  2. Markets
  3. Other

Albany New York's Public Pension: Perfect Example of What's Wrong in This Country

New website reveals NY retirees' public pensions. We have the same kind of website in California, which confirms similar data on pay. See an example in Welcome to Oakland--The Model City. The initial details in Albany are:

ALBANY, N.Y. -- A new website reveals the public pensions paid to New York state retirees, including the $261,037 paid annually to a former teacher. He is among the 1,378 retirees pulling down at least $100,000 a year.

Two-thirds of the retirees in that group are retired police and firefighters.

The Empire Center for New York State Policy website that went live Wednesday also shows:

- Former state Comptroller Alan Hevesi qualifies for a $105,221 annual pension. The Democrat resigned in 2006 after pleading guilty to using state workers as chauffeurs and companions for his wife.

- Former Senate Majority Leader Joseph Bruno, a Republican, is in line for a $96,085 pension. He retired before being convicted in a public corruption case earlier this year. Federal prosecutors said he used his position to reap $3.2 million in consulting fees.

How does a convicted employee with a crime against their employer get to keep a pension? I can't tell who the bigger idiot is, the party who committed the crime or the state for paying the pension. At least create a new law (if none exists) to end pensions to employees for such crimes against their employer.

As more and more states open up to publishing there compensation data, the public outrage is going to grow. If nothing is done on this front, a back lash of public sentiment will grow as a coming wave of "Social Unrest" hits America, especially towards Policemen and Firemen, who have the most outrageous pay packages.

Even though there's a big oil spill in the Gulf, and European counties lining up for default, this is the big issue here in America. The collective problem is massive and still wildly out of control. I've said it before, we are in inning #2 of this problem.

When, when are politicians going to get real?

Hope all is well.

 

Back to homepage

Leave a comment

Leave a comment