Rattner & The Pension Funds
NY Times http://www.nytimes.com/2009/07/14/bu...html?th&emc=th
I'm really curious where these settlement funds go. Here's $50 million "found money". Did it go into NYS coffers? Did it go into the pension funds? Where did it go? Every time we hear of a settlement like this, where does the money go?
Carlyle, which is among the biggest and most politically connected private equity firms and paid a $20 million fine, has agreed to stop using intermediaries, known as placement agents, to win investment business from public pension funds. It also agreed to halt campaign contributions to public officials who oversee pension funds. Riverstone Holdings, another firm caught up in the case, paid a $30 million settlement last month.