While running for New York City Comptroller, Democrat Brad Lander promised to scrutinize the city pension funds’ investments with risky private equity firms and follow through on fully divesting the funds from fossil fuel interests, Along the way, Lander scored endorsements from progressive Wall Street critics like Sen. Elizabeth Warren (D-Mass) and Rep. Alexandria Ocasio-Cortez (D-N.Y.).
But now that he’s in office, Lander has quietly been doing the opposite. He recently asked the state to allow him to funnel billions more dollars of retiree savings into private equity as part of this year’s budget bill. While lawmakers refused to sign off on the move, Lander could try the move again next year — which could mean a half-billion dollars worth of additional annual fees for an industry that has produced some of the wealthiest people on the planet and has a long history of funding oil and gas.
Watch our new video about Lander’s about-face — and then share it on social media and forward this email to friends and family.
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