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

[hopkinsnhorns 533]

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.

[Blotto 23975]

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 knowing nothing about the Texas Permanent School Fund.

Edited March 13, 2019 by Blotto

[TwiceHorn 31991]

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.

[ButtFumble 5246]

well from the article it seems the PUF is pretty well managed so that is good

[jimmyjazz 46979]

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

[ButtFumble 5246]

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

[chitwood 155]

8 minutes ago, jimmyjazz said:

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

Deleted

Edited March 13, 2019 by chitwood

[jimmyjazz 46979]

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 March 13, 2019 by jimmyjazz

[DaggerHorns 3147]

3 hours 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 knowing nothing about the Texas Permanent School Fund.

Of course there is, aggy is in the fold somewhere.

[Neonmoon 38130]

Aggy is trying to get more of that PUF anyway they can

[ButtFumble 5246]

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)