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Only in a state as corrupt as “Republican-controlled” South Carolina could an “ethics reform” movement – one born of endless scandals – devolve into a major scandal itself.
That’s exactly what’s happening, though, as the Palmetto State’s crooked-as-hell GOP leadership has been caught red-handed trying to secretly decriminalize an entire section of state law dealing with [...]
(Columbia, SC) – Below is a statement from South Carolina State Treasurer Curtis Loftis following this morning’s hearing at the State Supreme Court. The Court will render a decision in due course.
“This morning I was privileged to attend a hearing before the South Carolina Supreme Court in a matter initiated by the Retirement System Investment [...]
(Columbia, SC) – The State Treasurer’s Office filed its response with the South Carolina Supreme Court this morning advising the Court that the Warburg Pincus investment funding has been authorized based upon the information contained in sworn affidavits supplied by senior officials of the South Carolina Investment Commission. The sworn statements verify each of the [...]
S.C. Treasurer Curtis Loftis was sued by his colleagues on the S.C. Retirement System Investment Commission (SCRSIC) this week.
What for? Being the only guy on the commission who’s actually doing his job, of course …
SCRSIC commissioners – whose corruption and incompetence Loftis has been dutifully exposing over the last two years – are furious because [...]
(Columbia, SC) – Today, the South Carolina Investment Commission refused to provide State Treasurer Curtis Loftis with a document that would provide safety for the retirement fund’s $26.5 billion. The Treasurer asked for a simple legal document, signed by the Commission’s chief legal counsel, that would certify that the terms and fees in the investment [...]
South Carolina Treasurer Curtis Loftis is asking the S.C. Retirement System Investment Commission (SCRSIC) to disclose $106 million in previously unreported fees paid out to consultants of the state’s underperforming $26 billion pension fund.
The fees would bring the fund’s 2012 expense total to more than $400 million – one of the highest expense percentages in [...]
(Columbia, SC) – State Treasurer Curtis M. Loftis, Jr. requested today that approximately $106 million in additional fees paid to hedge fund managers be disclosed by the South Carolina Investment Commission in its annual report and financial statements. Treasurer Loftis sent a letter to pension fund consultants Hewitt ennisknupp (HEK) outlining the non-reporting.
“Fully complying [...]
S.C. Gov. Nikki Haley, to her credit, has come to the defense of State Treasurer Curtis Loftis – who was censured this week by the S.C. Retirement System Investment Commission (SCRSIC) for having the audacity to tell the truth about the fund’s poor performance, exorbitant fees and corrupt management.
Haley’s office told reporter Adam Beam of [...]
I firmly reject the Investment Commission’s efforts to silence my public criticism of the commission’s investment practices and its repeated refusals for information about the nature of investment practices, investment fees and contracts and other documents related to the investments. I will continue to press for transparency and accountability by the Investment Commission and staff.
(Charleston, South Carolina) “Today I ask all South Carolinians to stand with State Treasurer Curtis Loftis, who has once again been subjected to political attacks as he tries to do the job the people of South Carolina elected him to do. Treasurer Loftis has, from his first day in office, demonstrated the principles of hard [...]
For once a South Carolina Republican Party (SCGOP) official actually sounded off like they actually had a pair … rather than silently swallowing what this state’s status quo gives them.
SCGOP chairman Chad Connelly – who has devolved in recent months into a heaping mass of accommodating equivocation – took a rare principled stand this week, [...]