Al Gore’s green schemes have netted him a ton of dough. Did you know he’s also in the eco-friendly pension management business? New York City, and the state of New York, have tapped his firm to manage public employee pensions according to The New York Post. What could go wrong?
Here’s an inconvenient truth: New York is greening the wallet of Al Gore.
Embattled city Comptroller John Liu has delivered a $16.56 million contract to the former vice president’s environmentally friendly investment firm, Generation Investment Management, to help manage hundreds of millions of dollars in city pension funds, The Post has learned.
The Comptroller’s Office had previously awarded Gore’s firm $12.8 million in pension-fund business under Liu’s predecessor, Bill Thompson.
Since 2009, state Comptroller Tom DiNapoli has approved $6 million in contracts to the firm, co-founded and chaired by Gore. Generation now manages nearly a half-billion dollars of state pension-fund investments, records show.
In total, that’s more than $35 million in greenbacks to Gore’s firm.
Liu’s office proposes investment-management contracts to the board of trustees of the city’s five major pension funds. Generation is an investment manager for two of them: the New York City Employees Retirement System (NYCERS) and the Police Pension Fund.
But the Gore connection has been a closely held secret. (Read More)
Don’t you love the way these “dedicated public servants” go on to use their connections to fatten their wallets, while railing against the rich?