Are teacher’s pensions plans being used to bailout ultra-wealthy bankers and asset managers who made bad investments in Commercial Real Estate? Blackstone just announced more than $30 Billion from teachers pension funds across the country has been pledged to their new Commercial Real Estate fund. This as the CRE sector and it’s many derivatives are crumbling around them. Are our retirements about to be used as exit liquidity for bankers?
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Blackstone, one of the world’s largest private equity firms, has been accused of dumping toxic real estate debt into pension funds. The practice has sparked outrage among retirees and pension holders, who fear that their financial futures are at risk.
According to reports, Blackstone has been selling risky, high-interest real estate loans to pension funds, which are supposed to be safe and stable investments. The loans are backed by collateral, such as office buildings, hotels, and malls, but many of these properties are struggling financially, putting the pension funds in jeopardy.
Critics argue that Blackstone is taking advantage of the pensions, which are required by law to invest in safe, low-risk assets. By offloading their toxic debt onto the pensions, Blackstone is essentially shifting the risk from themselves to the retirees.
Blackstone, however, denies any wrongdoing and claims that they are simply trying to help struggling companies by offering them loans when other lenders won’t. They argue that the pensions are sophisticated investors who understand the risks involved and voluntarily choose to invest with them.
But pension holders are not convinced. Many are calling for greater transparency and scrutiny of Blackstone’s practices to ensure that they are not taking undue risks with their retirement savings.
This is not the first time that Blackstone has faced criticism for their investment practices. In 2018, the firm drew scrutiny for its purchase of a rental housing portfolio, which led to complaints of price-gouging and poor living conditions for tenants.
The issue of toxic real estate debt highlights the larger problem of private equity firms and their practices. While these firms can provide much-needed capital to struggling businesses, they also have a reputation for taking advantage of weaker parties and prioritizing their own profit over the wellbeing of communities.
As demand for alternative investments continues to grow, it is essential that regulators and investors keep a watchful eye on the practices of private equity firms to ensure that they are not putting people’s finances at risk. The case of Blackstone and toxic real estate debt should serve as a warning to the industry that the public is watching and demanding accountability.
Is this true
I agree of the CRE collapse and the impending glut of vacant properties looking for tenants. One thing that I discovered in the past is how those buildings can be repurposed for urban farming. They are tall, hopefully get decent light and can be used for hydroponic growing centers. This will not be any major economic center (except for cannabis farms), but could fill a nitch when everything else is going to hell. Just my 2 cents. Thanks, Ken.
I dumped my beloved TIAA Real Estate a year ago.
Teachers & their unions were massively in favor of the lockdowns that accelerated the working from home phenomenon.
The same people pushing CRT and brainwashing your kids are going to get screwed? My heart breaks.
Government lockdowns have consequences.
The solution is greater payments in and lower payments out. But who wants that?
They've bailed until their bailing cups broke. Like a fighter with his bell rung, they'll keep up the motion until they're carried out.
Always the best videos
Hey, I was looking through your channel’s about me, but couldn’t find a business email. Is there a way that I could contact you to talk about a potential business investment?
Well, you KNOW if someone like Tom Luongo retweets what you are saying, then you are on to something!!
Top notch analysis!! I always look forward to these non routine videos you make. I learn so much from you and makes me think and research more.
Excellent video. We've been hijacked. TY.
Sell to the ignorant as a sucker born every minute. Didn't Sweden pension fund buy into SVP two weeks before they went bankrupt and lost $1.5 billion huge ones, the traitor head of the pension fund must have had a tip off from his evil mates. Hahaha. Look, when the Draco ET alien invasion happens all markets will free fall. Weeeeee. Hahaha.
A prime example of why pensions are at the top of exter's pyramid.
Great forensic work, Jack! Thanks brother!
Everyone knows that bailing out banks is not palatable, but bailing out your teacher, cop, or fireman is. I'm sure the managers of these pension funds will be greatly compensated for this toxic agreement by Blackstone.
Holy Shit! This was good stuff. Thank you.
Jack, why aren't you writing to elected officials?
Jack, wouldn't you say the new York post is fake news?
Defined benefits pensions and Social Security are Ponzi's, by definition. As Catherine Austin Fitts has pointed out many times. Their is no constituency for (fiscal) responsibility.
These public unions demanded unrealistic gains on the backs of taxpayers. They wanted comfortable lies instead of prudent, sober truth.
Everybody boo hoos and cries about the consequences of fiscal imprudence; but they're not complaining when they're the benefactors of the initial phase of the ponzi, which is paid for by 'someone else, down the road'. The people that ''caused' this bloating are mostly dead by now. Thanks Boomers! Deficit spending should be illegal. Tax people to pay for things and force them to weigh the cost v. benefits.
Can kicking is over and someone needs to be exit liquidity. No sympathy. You could have righted this ship 20-30 years ago.
GetEm Melonhead ! We need more like You ! Bet your Jim Cramer on that…
Great video! Thank you for your channel, great content!
Another way to see this as ingenious. Stay with me. This garbage gets dumped on pension funds that are guaranteed. The defined benefit guarantee for teachers is stronger than FDIC insurance. The real cost, therefore, will then be transferred to taxpayers. I'm not saying this is good, but it is certainly clever.
shortcut to the fix: You buy the commercial buildings ultra cheap and then renovate them into luxury studio apartments. So, its not garbage. But a savvy investor will rescue it.
Hubby and I watched The Big Short a few days ago….2008 all over again. I’d suggest if people haven’t watched it to sit down and watch, if you already saw the movie, watch it again.
They are using the same play book.
I have shared it with as many people that I can…. I am not on social media, but this would be good for everyone to share with as many people that they can get to listen. The teachers in these states need to know this is happening to them.
Oppenheimer upgrades Blackstone to outperform
When bailouts are done, the bail ins begin
Excellent content sending to my brother who is a teacher in NYC!
what? and why? To save the donations!
stay well
What’s the likelihood Randi Weingarten is in on this?
Also remember when people didn’t have to pay rent for the unfortunate health situation? I’m sure that had no effect.
This video was fire. I’m just afraid that the fbi will raid your house one day for uncovering too much of what’s going on.
The 'lesson' here is that it won't be taught to future generations!
Nonsense is what the majority of the sheep-people believe….. truth is a scary thing when you have lived through years of lies.
This is shocking.
BlackRock is a spin off of Blackstone. They share common origins and ownership.
Thanks, good content
Very informative! Thanks!
Outstanding
Sad and I’m not really shocked anymore
But nonetheless outstanding