How hedge funds and private equity firms exploit workers' retirement savings.
In a recent speech to private equity investors, Securities and Exchange Commission Chairman Gary Gensler said hedge funds and private equity firms must provide far greater transparency about the fees that they are charging their clients.
Efforts to increase transparency and expose the widespread abuses by high flying Wall Street players of the pension funds of teachers, firefighters, cops, and bus drivers could soon be coming to a head in Ohio. "Ohio could be the first place where the secrecy surrounding public pensions and their investments in risky, speculative and high-fee investment vehicles could be looked at in a serious way," said Ted Siedle, a former SEC attorney and longtime pension whistleblower.