Quote:
Originally Posted by Jim in CT
CT imposed very high taxes on people
with very high incomes, meaning they had a ton of money. They spent all
that.
Posted from my iPhone/Mobile device
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the wildly successful blue city of providence in the wildly successful blue state of rhode island just borrowed half a billion to sure up it's wildly well managed pension fund...
https://turnto10.com/i-team/on-your-...s-pension-fund
PROVIDENCE — Just days before Gov. Gina Raimondo's nomination to a Cabinet post in Washington, the state pension fund ended a long-expired $5-million, 10-year investment in a venture-capital firm that Raimondo co-founded.
The state is now out. The City of Providence is still in.
It is not yet clear why the state, and not the city, was able to extricate itself from Point Judith Capital after paying the firm $1,134,375 in management fees only and logging an average annual return of 5.11%.