PENN LIVE: …To point to just one example, his former department currently employs 34 different private investment firms, all assigned to manage assigned longer-term portfolios for the state.
Those and other firms may also have been sensitive to McCord’s needs given the treasurer’s seat on the board of the state’s two multi-billion dollar major public employee pensions funds – a mother lode of financial raw material for mutual fund managers, hedge funds and private equity investors to play for.
While McCord was just one member of those boards, he was an influential one, and there were signs popping up Saturday that he wasn’t shy about making sure potential donors with an interest in state business knew it… (more)
EDITOR: so very sad. A brilliant potential career destroyed by lack of judgment.
