New Website Reveals Billionare's Campaign to Dismantle Retirement Security

Carolyn Constantino
Beyond Chron
April 06, 2015

A new website reveals that Enron-billionaire John Arnold has spent up to $50 million of his own fortune to dismantle retirement plans for firefighters, nurses, teachers and other public employees.

The website – Truth About John Arnold – is sponsored by the National Public Pension Coalition (NPPC) andCalifornians for Retirement Security and traces the wide financial influence that one billionaire has on public pension fights. John Arnold amassed his fortune as an Enron trader, where he earned an $8 million bonus as the company’s collapse decimated $1.5 billion in public pension assets. Arnold turned his $8 million into billions as a Wall Street hedge fund manager.

Click here to read more.


Be the first to comment

Please check your e-mail for a link to activate your account.
Get Advice Join TDU Donate

Recent News

Vote No at UPS Action Kit

Take action to defeat givebacks at UPS with the latest contract bulletins and Vote No tools.

Central States Pension: Latest Financial Report

The Central States Pension Fund ended the first quarter of 2018 with assets of $14.8 billion, a loss of $172 million for the quarter ending March 31, 2018. However, the loss would have been much worse except for a one-time payment of $467 million by the Kroger Corporation; this was a lump sum payment to pull all Kroger and some Kroger-contractor employees out of the pension fund permanently.

View More News Posts