Why is our former mayor even being considered for ambassador to Japan?
Maybe because Chicago teachers’ pension money flowed to financial companies connected to some of the mayor’s friends and top donors while he was in office.
In a 2015 story in International Business Times reported: “When Mayor Emanuel took office, he said he was going to stop the culture of pay-to-play,” said Alderman Scott Waguespack, who is among a group of lawmakers asking the U.S. Securities and Exchange Commission to investigate whether the donations also violated that agency’s anti-corruption rule. “This is an example of his failure to follow through on those promises.”
The lack of transparency of teacher pension funds and their investors, fees, returns is not limited to Rahm’s relationship to the CTPF.
The Illinois Teacher Retirement System fired all five of its top executives. Only an investigation of CIO Jay Singh and financial officer Janna Bergscheider by the Governor’s Inspector General has been made public.
We still don’t know the details of TRS executive director Richard Ingrams departure over a year ago.