When you see stuff like this, the gig is almost up.

"NYC Pension Earns $40 Million Over 10 Years, Pays Fund Managers $2 Billion"

http://thereformedbroker.com/2015/04/09/nyc-pension-earns-40-million-over-10-years-pays-fund-managers-2-billion/

"At great political risk to his own ambitions (given the local campaign-funding base), New York City Comptroller Scott Stringer took a look at how much the city’s been paying to Wall Street (or Greenwich) to manage its money over the last decade and what they’ve gotten in return.

It doesn’t look good."