Category Archives: Government

North Carolina Treasurer Janet Cowell has come under fire for the management of the NC Retirement benefits systems. The claim is that there is a $30 billion dollar secret fund that exists within it. Cowell has flatly denied this allegation. The man making that allegation is Edward Siedle. BizJournals explains:
State Treasurer Janet Cowell not only rejects claims that $30 billion in secret funds exist within the North Carolina Retirement System, but she and her office also question the legitimacy of the organization making the accusation.

Pension forensic investigator Edward Siedle has been vocal in his accusationsthat Cowell and her office cut secret Wall Street deals – a claim Cowell has denied. Via a 145-page report commissioned by the State Employees Association, Siedle and his firm, Benchmark Financial Services, accuse Cowell of flat out breaking the law.

Evil Wall Street 1% type argument being made here or something more locally political? Perhaps Siedle is a subscriber to the “99%” Occupy theme? Or perhaps this has more to do with keeping Cowell from possibly interrupting Attorney General Roy Cooper’s bid for Governor? SEANC used a similar move to discredit Richard Moore during his bid for Governor, why not go to the same well for water twice?

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