Wednesday, October 04, 2006

This will prove interesting 

As we discussed earlier this summer, there has been a debate over a payment of $1.5 million out of the Minneapolis Teachers Retirement Fund to a trust to supposedly cover for any legal liabilities for its directors after it was merged into the state Teachers Retirement Association. Now state auditor Pat Anderson is seeking criminal investigation of the transfer. The move is being called political by representatives of the trust. It should be remembered that a fair amount of that $1.5 million was for golden parachutes for the director of the MTRF, who managed the fund to a position of having 45 cents for every dollar of liabilities.

So who gets to investigate whether a crime has been committed? The Hennepin County Attorney's office, whose head is a little occupied right now. This might be one of the W.W.A.D. moments.