Looting the Pension Funds: How Wall Street Robs Public Workers - Matt Taibbi

``Raimondo's strategy for saving money involved handing more than $1 billion -- 14 percent of the [Rhode Island] state fund -- to hedge funds, including a trio of well-known New York-based funds: Dan Loeb's Third Point Capital was given $66 million, Ken Garschina's Mason Capital got $64 million and $70 million went to Paul Singer's Elliott Management. The funds now stood collectively to be paid tens of millions in fees every single year by the already overburdened taxpayers of her ostensibly flat-broke state.''