Editorials

July 30, 2013

Editorial: South Carolina’s bad investment settlement

WE HAVE NO idea whether the State Retirement System’s lawsuit against the Bank of New York Mellon Corp. was a strong case that was badly bungled or a frivolous case that never should have been brought, but we know this: Nothing that has been made public about the settlement is worth bragging about. Nothing that has made public suggests that the State Retirement System — which is to say, current or future state retirees — benefitted.

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