Dickinson Says Siedle Should Be Named Special Prosecutor to Investigate Raimondo & “Pension Reform”
Sunday, June 03, 2018
Spencer Dickinson, a Democratic candidate for governor, said that he will bring in Ted Siedle as a special prosecutor to "dig into problems with the RI retirees pension fund."
Dickinson is the only candidate from either party who, as a member of the House, actively fought what he calls: “The so-called ‘pension reform’ disaster of 2011.” Dickinson says that the legislation pushed through by Speaker Gordon Fox and then-treasurer Gina Raimondo in November 2011 has "angered thousands of teachers and state employees who still believe the action was illegal, unnecessary and unfair."
Siedle, a columnist for Forbes Magazine and former attorney with the Securities and Exchange Commission, "does not mince words when sharing his views on the subject: “Pension fraud … 38 Studios… these are the greatest crimes ever perpetrated in the history of the state.”
GET THE LATEST BREAKING NEWS HERE -- SIGN UP FOR GOLOCAL FREE DAILY EBLASTAccording to Siedle, “Raimondo’s scheme, well-financed by Wall Street hedge fund billionaires, was never about solving pension underfunding in Rhode Island or anywhere else. It was a wealth transfer, pure and simple.”
Dickinson, who was a contributor to a fund set up to bring Siedle here for an earlier study, had proposed a compromise which would have saved most of the COLA’s. Speaker Fox, probably fearing future court action, used parliamentary tricks to cut off debate. It was known that one of the standards a state would have to meet to break a contract would involve proving there was no viable alternative. Dickinson says, “I’m confident that my proposal was a viable alternative and if it had been adopted the retirees and the pension fund would all be much better off today. But Fox and Raimondo had other plans.”
Dickinson says he is sure that he speaks for many retirees and public employees when he says, “I’m looking forward to bringing Ted Siedle in as a special prosecutor to bring out everything that happened. If we do this right, it will open the door to hiring a new generation of teachers and public employees who can trust the state to live up to its promises.”
Could Raimondo be found guilty of Federal crimes if everything Siedle says is true? “It’s too early to know for sure,” Dickinson says, “But I wouldn’t rule it out.”
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