As one might expect, taking political contributions from investment firms making big bucks from your state’s pension fund directly into your campaign is highly illegal under Federal law.
Fortunately for Ron DeSantis and other sleaze balls like him the Republican dominated Supreme Court has provided a workaround in the Citizen’s United decision which allows for graft to be laundered through political action committees, in Ron’s case the Republican Governor’s Association, before it is deposited directly into your campaign’s coffers.
That is what the investigative reporters at The Lever allege has happened in Florida and the DeSantis Campaign, much to the financial detriment of Florida seniors:
“Florida governor and Republican presidential hopeful Ron DeSantis has been crusading against “woke” investments for allegedly threatening his state employees’ retirement funds. But the most imminent threat to Florida public employees’ retirement dollars appears to be the massive state pension investments that have gone to some of the Republican Party’s Wall Street donors under DeSantis’ watch.
Despite a federal anti-corruption rule designed to prevent donors from receiving pension investments, private equity executives have donated millions to political groups supporting DeSantis, all while the governor oversaw the transfer of more than $1 billion of Florida public employees’ retirement dollars into these donors’ high-fee, high-risk “alternative investments.”
That’s right, while The Gubernator has distracted Republican voting white seniors by attacking gays, minorities, trans kids and otherwise flogging his mouse, he has been funneling their retirement stash into investments firms that have provided less than stellar returns:
A Lever review found that had the state pension fund instead been invested in a simple, low-cost index fund, compared to its present mix of holdings, teachers, police officers, and other state employees would have about $10 billion more in their retirement funds.“
Congratulations, denizens of The Villages, while DeSantis has been distracting you with the cultural crusades which are now having devastating effects on your State’s economy, and upon which you rely to have a good performance to bolster and strengthen your retirement accounts, he has also been picking your pockets to fund his own political ambitions:
“The low-return, high-fee investment strategy under DeSantis — who serves with two other Republicans on the state pension board — has been harmful for the state’s retirees, who had already been struggling with sub-par retirement payouts.
But under DeSantis’ leadership, the state pension fund’s investments have been a boon for financial firms whose executives have delivered huge donations to the Republican Governors Association (RGA), which has pumped $22 million into the Friends of Ron DeSantis, a political committee that supported DeSantis’ gubernatorial campaigns and is expected to finance a super PAC supporting his 2024 presidential bid. Friends of Ron DeSantis was the largest recipient of RGA cash last cycle.“
But as long as he attacks those who are not like you, you will keep voting for him, am I right.
Remember this when you are taking your “9-Lives” casserole from the oven…