OK, time for a little light on the cockroaches again.
I’m not going to recite the litany of screw ups that is the Kentucky Retirement Systems (KRS), you can read them if you want in the old posts of this blog.
But now there is an opportunity that a little light may come to the investment committee of the KRS. House Bill 380 has passed out of the House by a vote of 95 to 0 and is now in the Senate. The bill will essentially add a couple of people with investment knowledge to the investment committee. What a concept.
This is a good thing.
More people, more eyes, maybe someone will actually take a look at what is going on.
However, I wonder if this bill will make it out of the Senate.
You see, I understand that Sen. David Williams was involved in getting Louisville political hack Schuyler Olt a $120,000 a year job at KRS.
Since on the last things the management of KRS wants is someone who actually understands investments looking at the investments, I wonder if the payback will be the killing HB 380.
Let’s hope Williams is too busy bashing Jim Bunning to care.