The Bush legacy just goes on and on.
Pension Benefits Guaranty Corporation insures a portion of the retirement funds of 44 million Americans to protect their savings accounts from the capriciousness of market conditions.
Not long after his Social Security privatization scheme went down in flames, President Bush appointed Charles Millard the head of the Pension Benefits Guaranty Corporation. And the former Lehman executive decided to invest a good bit of it into the stock market and real estate. This was back in 2007 and 2008. So obviously billions of pension insurance dollars disappeared into thin air.That was where things stood before investigators looked at it and saw a suspicion pattern of communications with big investment houses just before Millard piled tons of money into their funds. And now senators are asking for a criminal investigation.
....but hey, do what you want....you will anyway.
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