No journalist has done more to expose Wall Street designs on public pensions than David Sirota.
When I need to make the argument that the assault on public pensions is not just a local Illinois issue, I have Sirota’s work to point to.
He was a staff writer for the Silcon Valley internet web site called Pando Daily.
He was fired over the weekend.
Today The Gawker reports:
Over the weekend, Pando fired two of its hardest-hitting editorial staffers, David Sirota and Ted Rall, both nationally syndicated veteran journalists. Sirota recently broke a big story about Chris Christie’s administration awarding pension contracts to hedge funds, private equity groups, and venture capital firms whose employees donated to the governor’s reelection.
In February, Pando raised $1.2 million in financing from some powerful venture capitalists, including Accel Partners and Founders Fund, both of which invested in prior funding rounds.
Sirota’s scoop about Chris Christie breaking anti-corruption laws was shared and liked 10,000 times on Facebook. According to Quantcast, Pando is only pulling in 859,000 monthly uniques globally and 579,000 uniques in the U.S.
An anonymous source alerted Valleywag to the firings. Neither Rall nor Sirota would comment on why they were fired. But there was a consensus among sources that the decision was not related to budgetary concerns. “It was completely from Sarah Lacy. Paul was the executioner. Apparently it came from complaints from investors in Pando,” according to one Valleywag source. “Sarah basically said there was not enough tech and too much politics.”