Public pension plans are the focus of this week’s The Far Middle podcast. Nick explains why public pension plans are a big deal. The annual benefit payments from these plans represents roughly 1.5% of U.S. GDP. Unfortunately public pension plans are in escalating financial trouble as liabilities increase and funding decreases. Nick argues that managers and leaders of these funds have lost their fiduciary compass, and that compass has been replaced by “the Leech way.”

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