english: Prior to this I thought that the pension problem was mostly casued by promising the unions too lavish benefits defended by impossible actuarial assumptions such as 8% return without recessions etc. I never imagined that the so called advisors could pull more than 3% of fees from the fund nor that the funds would be invested in practically useless infrastructure projects such as stadiums.
non_english: WAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWAWA Credits to grates for the footage...