The New Jersey Treasurer estimates its unfunded liabilities relating to lifetime health benefits for current and retired teachers is $36.32 billion.

Caption Contest!

Chris Christie opens the door.

Video

The State of New Jersey is paying some $600 million in annual fees to hedge funds and private equity firms to have large portions of their pension system’s funds managed. The rationale behind pushing into hedge funds in 2010 was that traditional portfolio strategies weren’t going to work anymore and hedge funds would add several percentage…

Below, my notes from the middle panels of the day. If you missed my notes from the first few of the day, they’re published already – right here. The middle panels of the day consisted of insights from Leon Cooperman (who came over and said the nicest thing to me I’ve ever heard, I’m still…

A Christie nomination for the GOP Presidential candidate (not that he’s running) would represent the ultimate referendum on public unions in the United States