S.C. Retirement System Investment Commission Shot Down In Flames
In case you missed it, today Governor Mark Sanford and the S.C. Budget and Control Board shot down in flames any effort by S.C. Retirement System Investment Commission to create a risky new investment scheme that would create a publicly-funded company to manage billions of the state’s pension fund.
In what was seen by many to be an about face, Converse Chellis proceeded to throw the entire effort under the bus citing numerous attempts to get the commission to be transparent about their activities and produce “The Plan”. Until today we quite frankly believed we had seen just how arrogant and condescending our state government bureaucrats can be regarding the little folks but hell this was the Budget and Control Board, but no we were wrong, AGAIN.
Allow us to introduce The commission’s Chairman Allen Gillespie, a self described financial genius of the Pelosi mold who proceeded to tell the Budget and Control Board that they would really like what was in “The Plan” if… they were only smart enough to understand it and by the way NO the commission could and or would not share a copy of the “The Plan” if in fact they had one, due to attorney client privilege.
Okay we’re not real smart but if you are going to go and ask the S.C. Budget and Control Board for 15 million dollars for whatever, you might want to have a business plan ready, but hey that’s just us.