Christie’s Administration Is Facing Another Investigation | WHAT REALLY HAPPENED

Christie’s Administration Is Facing Another Investigation

If after last week’s Bridgegate indictments you thought Chris Christie was finally done as the focus of government investigations, think again. The Republican governor’s administration in New Jersey is facing a whole new inquiry—this one involving hundreds of millions of dollars, and not just blocked-off bridge lanes.

At issue are the fees being paid by New Jersey’s beleaguered public pension system to Wall Street firms. In recent years, Christie’s officials have shifted more of the retirement savings of teachers, firefighters, police officers and other public workers into the hands of private financial firms. That has substantially increased the management fees paid by taxpayers to those firms. Indeed, while Christie says the pension system cannot afford to maintain current retirement benefits, pension fees paid to financial firms have quadrupled to $600 million a year—or $1.5 billion in total since he took office in 2010.

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