When pension funds are caught up in scandals, it is not the embarrassment of the funds that should be making headline news, but rather the fact that they are playing with future security of millions of workers.
Contrary to the claims of charity apologists, there are a huge number of "rotten apples" in the nonprofit barrel. Yet charity regulators, federal and state, have taken insufficient steps to eliminate these abuses.
Robert Ingram was the Director of a FRNIP. Or so you were supposed to think. Starting in 2005, Ingram told potential FRNIP investors that they would realize huge returns within a few weeks. Wow, sign me up!
President Barack Obama is refusing to back a bill that could create millions of jobs in the private sector. The bill, the Fairness and Transparency in Contracting Act, H.R.2568, was introduced by Georgia Congressman Hank Johnson last May.