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Texas Permanent School Fund (US Largest Edu. Endowment) rife with corruption?


hopkinsnhorns

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https://www.houstonchronicle.com/news/investigations/article/Highly-confidential-School-fund-s-13631976.php

Some excellent investigative journalism being shut down by privacy laws left and right.  I hope this gets some traction.  This smells as fishy as the Pecan Park deadly raid, but I'm afraid this corruption casts a much wider net.

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26 minutes ago, Blotto said:

I think that it's safe to say, if $44 billion is involved, there's gonna be some sleazy shit going on. And I say that k owing nothing about the Texas Permanent School Fund.

Yep, throw in a few "hedgie" types and there will be fairly massive profiteering.

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2 minutes ago, jimmyjazz said:

How is this distinct from UTIMCO?  Isn't the PUF managed by UTIMCO?

this is the Permanent SCHOOL Fund

it is like the PUF except it is for K-12 funding (and only marginal in performance apparently unlike the PUF)

and unlike the PUF according to the article it is actually two funds one run by the education board and one run by the state lands office and neither are doing it well

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10 minutes ago, ButtFumble said:

this is the Permanent SCHOOL Fund

it is like the PUF except it is for K-12 funding (and only marginal in performance apparently unlike the PUF)

and unlike the PUF according to the article it is actually two funds one run by the education board and one run by the state lands office and neither are doing it well

Thanks . . . I reached my 3 articles per decade limit and incognito didn't work.

Is it also somehow under the UTIMCO umbrella?  Sounds like it isn't, but none of this is terribly transparent without more digging than I care to do.  (An old HS classmate was interim CEO at UTIMCO for a bit.)

Edited by jimmyjazz
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12 minutes ago, jimmyjazz said:

Thanks . . . I reached my 3 articles per decade limit and incognito didn't work.

Is it also somehow under the UTIMCO umbrella?  Sounds like it isn't, but none of this is terribly transparent without more digging than I care to do.  (An old HS classmate was interim CEO at UTIMCO for a bit.)

no not at all totally separate

the state lands office and the state board of education each run a part of the investment pool

the lands office is responsible for the part that is similar to how the PUF started with land that turned out to have oil, and they also do some investing now after a change in the law, but in the past they turned all of the money from those lands over to the bard of education to invest......now they are allowed to keep some of the money and they invest it too

but UTIMCO and the PUF are not involved at all (thank God from the article and the not that great management)

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