Economics

Christie Pension Strategy Yields Handsome Returns — For Wall Street

Gov. Chris Christie’s administration openly acknowledged that more New Jersey taxpayer dollars were going to land in the coffers of major financial institutions. It was 2010, and Christie had just installed a longtime private equity executive, Robert Grady, to manage the state’s pension money. Grady promoted a plan to put more of those funds into riskier…

Christie Pension Strategy Yields Handsome Returns — For Wall Street

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