Randi Weingarten says she just wants to help the financial community. To that end, the president of the American Federation of Teachers has compiled a document called “Ranking Asset Managers.”
The purpose of the pamphlet, released last month, is to promote “transparency and disclosure” among investment managers so that “trustees can make informed decisions about the risks their plans face.”
What risks, you say? Well, hiring asset managers who have ties of any sort to free-market nonprofit groups like the Manhattan Institute. Which is to say, groups that have raised alarms about public-sector union pensions and proposed serious reforms.