Stocks and jocks.
I was invited on a local Chicago radio show to talk about teacher pensions.
The morning show is called Stocks and Jocks.
Luckily they didn’t ask me any jock questions.
Or any stock questions, for that matter.
Stocks and Jocks is a radio show that is aimed at the small investor. The host, Tom “The Chief” Haugh, has a certain populist approach to investment issues. At one point he even offered to join me in hanging some of the giant corporate types and crooked politicians from the nearest tree.
I decided not to take up the offer on the radio.
Tom thought the underfunding of state public employee pensions had to do with investment performance.
I said the problem was the failure of the state to meet their pension payment obligations for 40 years and the General Assembly’s use of the public employee pension system as a no-interest credit card.
In the end, I’m not sure we agreed on this. Certainly Tom “The Chief” Hough is interested in encouraging investments in 401Ks. But we both agreed that promises by the state should be kept.
He was a considerate host.
Can’t ask for more than that.