Elliot Spitzer is finally investigating the New York State United Teachers and their relationship with an endorsed product provider ING. I raised concerns about this relationship several years ago and send an e-mail to Sptizers office encouraging him to look at if a Fiduciary breach of responsibility is occuring. Nothing ever happened. Finally, thanks to a series of articles that have appeared in Forbes magazine, the LA Times, and other publications Spitzer is looking into this cozy relationship. What follows are links to a few of the articles - most require either a free subscription, some you must pay for the article (yea right, like we're going to pay for it)....
New York Times: Spitzer Studying ING's Tie to Teachers' Union
New York Post: Where's Elliot?
Reuters: New York AG probing teachers' union ties with ING
LA Times: New York Is Probing 401(k) Plans
New York Post: ELIOT TAKES A 'PASS'
I'll continue to follow this story and pass along all pertinent articles.
Scott Dauenhauer, CFP, MSFP