SC

Loftis Wins Access In Pension Fund Fight

S.C. Treasurer Curtis Loftis has won what he calls a “nice victory” for taxpayers in his ongoing battle against our state’s corrupt, incompetent pension fund managers. For those of you who haven’t been following the war between Loftis and the notoriously corrupt S.C. Retirement System Investment Commission (SCRSIC), you can…

S.C. Treasurer Curtis Loftis has won what he calls a “nice victory” for taxpayers in his ongoing battle against our state’s corrupt, incompetent pension fund managers.

For those of you who haven’t been following the war between Loftis and the notoriously corrupt S.C. Retirement System Investment Commission (SCRSIC), you can read our latest recap here. Bottom line? Loftis is the only guy in the state seeking to reform this unaccountable $25 billion fund – which for years has conducted its shady business in secret.

“For over two years the Investment Commission improperly denied the State Treasurer’s Office access to important investment documents,” Loftis wrote in an email to his supporters. “But finally, after a long and bitter struggle, the Commission and Treasurer’s office has signed an agreement to ensure that the Treasurer’s professional staff can do their jobs.”

Good … it’s about time.

South Carolina’s pension fund pays the nation’s highest fees – yet produces a low return on investment. Loftis has been exposing these shoddy results – as well as the shameless self-serving behavior of the fund’s corrupt commissioners, led by Hugh Leatherman appointee Reynolds Williams.

Has S.C. Gov. Nikki Haley helped him? Hell no … her appointee to the SCRSIC censured Loftis, and she’s been working behind the scenes to block an audit of the corrupt commission.

“The most important battles in state government are those that affect your money,” Loftis added. “They are almost always fought behind the scenes and away from public scrutiny.”

We agree …

Props to Loftis for his ongoing efforts … and let’s hope this is the year he gets some long overdue support from other state government “leaders.”

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23 comments

nitrat September 23, 2013 at 9:02 am

Personally, I love it when an elected official admits he doesn’t have the education/experience to do his job and has to rely on his career state employee staff – those evil bureaucrats – to perform the required functions.
I just don’t think most of those who genuflect at the mention of Curtis’ name understand that’s what he’s doing.

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Kyle September 23, 2013 at 9:34 am

Nitrat

So, in your world, you would run the Treasurer’s office by yourself. No staff, just you by your lonesome.

You must be very smart to run the State’s banking system, invest billions of state money, be vice chairman of the Budget and Control Board, Chairman of the Board of Financial Institutions, etc, etc, etc, all by yourself.

Some people are smart. Some people are stupid. You, nitrat, are clearly stupid.

PS why don’t you call the Governor, and Senator LEATHERMAN, and other high officials and give them your plan. Yea, that’s the ticket. Call them all.

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nitrat September 23, 2013 at 9:56 am

You, Kyle, have no reading comprehension or infer sarcasm when none is present. How stupid is that?

I just wish all elected and political hack appointees would admit they need career staff with more than 10 minutes of experience instead of demonizing them. But, hey, that ain’t the GOP way.

Obviously, you not only kneel in Loftis’ presence, you suck his dick.

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Kyle September 23, 2013 at 12:39 pm

Besides being foul mouthed you do not write clearly.

If you are trying to make the point that elected officials with significant duties should delegate to their staffs then perhaps you should say so with out wise cracking insults to those that support Loftis.

If on the other hand you are trying to say you are a low IQ Democrat slinging hate you need to say nothing more. You have accomplished your goal.

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nitrat September 23, 2013 at 3:26 pm

Get to work, Curtis.

lindsey g September 23, 2013 at 3:35 pm

Too bad that Nikki won’t admit she doesn’t have the education or experience or integrity to do her job. Bad politician, bad wife, bad mother.

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FFT II September 23, 2013 at 9:38 am

Nice job Mr. Loftis. Keep it up, but don’t forget about the black holes at DSS, Dot and Dew. And University out of control spending.

You have a lot to do so get to it.

And thanks for making me proud of my vote for you.

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You know me September 23, 2013 at 3:37 pm

Yes, he is currently SC’s only rock star.

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You know me September 23, 2013 at 10:05 am

Al said he’s gotten death threats. Hope Curt is very careful.

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Same ol' Same ol' September 23, 2013 at 10:29 am

I was just thinking the same thing. Lots of money at stake here, watch your back. Please take care. Wish we didn’t have any of this type of stuff in SC, but, I’m sure we’re not alone.

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James September 23, 2013 at 12:54 pm

He has begun taking precautions though he will not discuss it. He refuses to talk bout it but I know his house has been gone through at least twice and his car gone through but nothing never taken. He hired a private eye to search his house to see if “anything” was “left behind.”

He is also moving to a more secure house that has quarters for a security type to live. There are a lot of powerful people mad at Curtis because he has clamped down on the money leaving the treasure’s office. He has been my friend for a long time and he will never back down from doing what he thinks is right. I hope he knows what he is doing because politics is not worth those types of risk.

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Redneck September 23, 2013 at 2:08 pm

He can’t go to SLED. They are the ones the that will be doing the bidding of the rich guys he is pissing off. He needs a couple of mean ass dogs and a redneck with a double barrel shotgun! He is. Lexington county guy so he knows lots of rednecks.

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About to retire September 23, 2013 at 10:09 am

I have worked in state government for 32 years and I can tell you no matter how much information Loftis has gotten they are still cheating him. You can bet the farm that they have information he has never and will never see. In fact, no one will ever see it.

The FOIA laws of SC are very week. legislative changes must be made but in the time of Nikki Haley that will never happen.

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12" September 23, 2013 at 2:20 pm

Damn skippy they are hiding more than they ever gave him. Congrats on his hard work but crooked bastards are just that, crooked bastards.

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Philip Branton September 23, 2013 at 12:27 pm

Curtis Loftis is a political puff cake and he is too scared to even unzip his own “suit case”..!!

LOL…..“The most important battles in state government are those that affect your money,” Loftis added. “They are almost always fought behind the scenes and away from public scrutiny.”…..!!

What kind of “Sherlock” is Curtis…?? ROFL……

Does he even have a clue how “Lin Bennett” is used to decide who gets what seat on this “commission”…??

Curtis needs to stop shining US Senator Lindsey Graham’s shoes and start wearing some boots himself…!!

We wonder if “Lofty” Loftis has a clue of just how much of this PENSION fund is invested in FOREIGN OIL…that is helping fund TERRORISTS…!!!

My backside………

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Eric September 23, 2013 at 12:40 pm

Take your meds Blanton. You need them badly.

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Mazyck September 23, 2013 at 12:52 pm

I wish a special machine existed allowing reproducing human beings.
If we could reproduce several Curtis Loftis and put them in SC government, the state could make wonderful progress and enter the 21st century “clean” and “healthy.”
Instead we have the dregs — the incumbents — the Leathermans, the Harrells, the Haleys, and cannot get rid of them. They are like fleas on a long-lived, sick dog.

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Cash 2 September 23, 2013 at 1:20 pm

Give them hell Mr. Loftis! Kick ass and take names! Show them no mercy!
I am damn sick and tired of the gold old boys.

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Confederateliberal September 23, 2013 at 1:35 pm

This is a big win for the Commission. They have been trying for over a year to get Loftis to agree to a non disclosure agreement. He finally signed after being boxed in by the Inspector General. His big win looks a lot more like a retreat to me.

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Ben September 23, 2013 at 3:31 pm

Most pols won’t touch tricky issues and I celebrate Mr. Loftis for doing just that.
Courage in politics is in short supply

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Donald September 23, 2013 at 4:40 pm

I wish Mr. Loftis had run in the primary against either Haley or Graham. I would be happy to vote for him.

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Guest September 23, 2013 at 8:59 pm

Since Loftis is claiming this is a big victory for taxpayers, it’s not, and a victory for transparency, maybe, why doesn’t he show us how it is done and let on what is in that contract he agreed to sign with that big Wall Street bank. Could it be it is not that great of a deal? It has now been almost 4 months and no one outside his immediate circle knows what is in it. Transparency should apply to all politicians, including Loftis.

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Greenville W September 24, 2013 at 7:52 am

I don’t know much about Loftis but at least he is trying to change government, most politicians just open their pockets and take all the cash and favors they can.

I appreciate him standing up for people like me.

Reply

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