Investment Commission Refuses To Provide Documents To State Treasurer
(Columbia, SC) – Today, the South Carolina Investment Commission refused to provide State TreasureYou must Subscribe or log in to read the rest of this content.
(Columbia, SC) – Today, the South Carolina Investment Commission refused to provide State TreasureYou must Subscribe or log in to read the rest of this content.
26 comments
I like Loftis…the reality is though that the good ole boys are going to tamp him down. There’s too much money and too many power players involved.
You are probably correct about that. But you have to admire someone that keeps fighting and fighting and fighting. I think he is the best vote I ever cast and as a state retiree I sleep better knowing he is on the job.
I like Loftis…the reality is though that the good ole boys are going to tamp him down. There’s too much money and too many power players involved.
You are probably correct about that. But you have to admire someone that keeps fighting and fighting and fighting. I think he is the best vote I ever cast and as a state retiree I sleep better knowing he is on the job.
This is just basic business. You strike a bargin and they you stick to it. You don’t pay less or more. Who the hell would want to do it any other way?
This is just basic business. You strike a bargin and they you stick to it. You don’t pay less or more. Who the hell would want to do it any other way?
The ‘good ole boys’ want to tamp him down, but the ‘good tole girl’ has the final nail and hammer.
The ‘good ole boys’ want to tamp him down, but the ‘good tole girl’ has the final nail and hammer.
I work in state government and state retirement is all I will have when I retire. As a CPA I follow the Investment Commission closely and I believe Treasurer Loftis is doing a wonderful job of protecting my pension.
I work in state government and state retirement is all I will have when I retire. As a CPA I follow the Investment Commission closely and I believe Treasurer Loftis is doing a wonderful job of protecting my pension.
It’s interesting that they chose not to share the part of the meeting where the Investment Commission’s COO walked through several pages worth of communications between the Investment Commission and the Treasurer. Every document the Treasurer asked for was given to him, every concern he expressed was addressed until the Treasurer communicated that he was satisfied. However, in the end the Treasurer falls back to yelling and claiming that everyone is hiding something in order to make the uninformed voter believe he is on their side. Almost everyone who has to work with the Treasurer will tell you that he is crazy (seriously). Do yourself a favor, attend a Commission meeting, and see for yourself who is actually trying to solve problems and who is trying to create more. This is pure politics, nothing more, and unfortunately the retirees are the ones who suffer.
I trust the Treasurer. He has proven time and time again he supports basic and sound business practices. The Commission has shown time and time again it knows how to pay outrageous fees and make make low returns.
As a retiree I pay lots of attention to this fund and I tell you the ones that benefit are its overpaid employees and wall street zillionaires.
I hope the treasurer is “crazy” cause the “sane” ones are going to bankrupt us! We need leaders not followers.
In SC we elect people that say the right things but do otherwise in reality.
It was the only 40 seconds of the meeting where Loftis almost appeared lucid. Every time they give him one more thing that he wants he thinks up something else and moves the goal post. Loftis is out to destroy the trust fund and South Carolina’s reputation as a reliable investment partner to further his political ambitions. Any public employee or retiree who thinks Loftis is protecting their interests is delusional.
If Loftis were to somehow prevail and convince the Commission to pursue lower fee but higher risk investments, taxpayer and active public employees would have to contribute more to the fund in order to keep the amortization of the unfunded liability from increasing. That’s right public employees, your take home will get even smaller or retiree benefits will have to be reduced.
As a retiree, I am very comfortable with the strategy of pursuing moderate returns while keeping risks at an acceptable level. I am not comfortable with Loftis’ grandstanding.
Mr. Crum,
Either you are not listening carefully, are intentionally distorting the Treasurers position or you are stupid.
You should call the Treasurer and speak to him. I do it once a month or so.it is an enlightening, intellectually fulfilling exercise that settles my mind and illuminates the “big picture.”
It is clear by the level of personal attacks that the insiders are threatened. In my book that is good. I have spent 28 years in state government and I know that the crooks get nervous only when there is a good reason. Loftis is that reason and more power to him.
I have spoken to the Treasurer on more than one occasion but because I do not always share his opinion the last time we did attempt a conversation it ended with him personally attacking me, questioning my intelligence, and generally acting like the overgrown bully that he is. If you agree with him it is a wonderful world, if you disagree you are morally corrupt and trying to hide something. It is the Treasurer who resorts to personal attacks and it is the Treasurer who mistakes unfounded opinion for facts . I suggest that you are doing the same.
It’s interesting that they chose not to share the part of the meeting where the Investment Commission’s COO walked through several pages worth of communications between the Investment Commission and the Treasurer. Every document the Treasurer asked for was given to him, every concern he expressed was addressed until the Treasurer communicated that he was satisfied. However, in the end the Treasurer falls back to yelling and claiming that everyone is hiding something in order to make the uninformed voter believe he is on their side. Almost everyone who has to work with the Treasurer will tell you that he is crazy (seriously). Do yourself a favor, attend a Commission meeting, and see for yourself who is actually trying to solve problems and who is trying to create more. This is pure politics, nothing more, and unfortunately the retirees are the ones who suffer.
I trust the Treasurer. He has proven time and time again he supports basic and sound business practices. The Commission has shown time and time again it knows how to pay outrageous fees and make make low returns.
As a retiree I pay lots of attention to this fund and I tell you the ones that benefit are its overpaid employees and wall street zillionaires.
I hope the treasurer is “crazy” cause the “sane” ones are going to bankrupt us! We need leaders not followers.
In SC we elect people that say the right things but do otherwise in reality.
It was the only 40 seconds of the meeting where Loftis almost appeared lucid. Every time they give him one more thing that he wants he thinks up something else and moves the goal post. Loftis is out to destroy the trust fund and South Carolina’s reputation as a reliable investment partner to further his political ambitions. Any public employee or retiree who thinks Loftis is protecting their interests is delusional.
If Loftis were to somehow prevail and convince the Commission to pursue lower fee but higher risk investments, taxpayer and active public employees would have to contribute more to the fund in order to keep the amortization of the unfunded liability from increasing. That’s right public employees, your take home will get even smaller or retiree benefits will have to be reduced.
As a retiree, I am very comfortable with the strategy of pursuing moderate returns while keeping risks at an acceptable level. I am not comfortable with Loftis’ grandstanding.
Mr. Crum,
Either you are not listening carefully, are intentionally distorting the Treasurers position or you are stupid.
You should call the Treasurer and speak to him. I do it once a month or so.it is an enlightening, intellectually fulfilling exercise that settles my mind and illuminates the “big picture.”
It is clear by the level of personal attacks that the insiders are threatened. In my book that is good. I have spent 28 years in state government and I know that the crooks get nervous only when there is a good reason. Loftis is that reason and more power to him.
I have spoken to the Treasurer on more than one occasion but because I do not always share his opinion the last time we did attempt a conversation it ended with him personally attacking me, questioning my intelligence, and generally acting like the overgrown bully that he is. If you agree with him it is a wonderful world, if you disagree you are morally corrupt and trying to hide something. It is the Treasurer who resorts to personal attacks and it is the Treasurer who mistakes unfounded opinion for facts . I suggest that you are doing the same.
I called the treasurer last night and he took my call and we talked for 20 minutes and it was very interesting. He has this stuff nailed and it is very clear to me that he is in this for the right reasons. I never thought he was political, or spinning, or anything but perfectly in-tune with people that elected him, like me.
I called the treasurer last night and he took my call and we talked for 20 minutes and it was very interesting. He has this stuff nailed and it is very clear to me that he is in this for the right reasons. I never thought he was political, or spinning, or anything but perfectly in-tune with people that elected him, like me.
I never spend large sums of ones without everything being in writing and clear. If they are making investments without doing that they are very foolish .
They should give the Treasurer the document or put in writing why they would not. Simple solution.
I never spend large sums of ones without everything being in writing and clear. If they are making investments without doing that they are very foolish .
They should give the Treasurer the document or put in writing why they would not. Simple solution.