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City comptroller Scott Stringer says Wall Street asset managers’ high fees wiped out the value they created for New York City’s pension funds
A new report by the New York City Comptroller’s office has found that in exchange for the $2.5 billion in fees paid to major investment managers over the last decade, the city’s five pension funds have received almost nothing in return. Or, as The New York Times puts it, “The Lenape tribe got a better...
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