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"They had turned New York's $122 billion pension fund into a criminal enterprise"

Scandal's not exactly new in Empire State governance, but the indictment of Hank Morris and David Loglisci, former top aides to ex-Comptroller Alan Hevesi, tells an especially grim tale. According to Manhattan Institute fellow Nicole Gelinas, the "news should end one pension-reform debate: These retirement funds shouldn't be going into so-called 'alternative investments.'"

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Rafael Mangual
Project Manager,
Legal Policy

Katherine Lazarski
Manhattan Institute


Published by the Manhattan Institute

The Manhattan Insitute's Center for Legal Policy.