Tuesday, October 21, 2014
Inquirer Daily News

Joseph N. DiStefano

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Joseph N. DiStefano writes business stories for the Inquirer, including the PhillyDeals column on Sundays, Mondays and often on other days too, as well as the blog at www.philly.com/phillydeals.

The revelations of Carmen Segarra, the former Federal Reserve bank examiner who made secret tapes of her bosses timidly urging her not to be too harsh with big risky deals by big risky banks, confirms things Fed-watchers and the central bank's own leaders have been saying for years, says Swarthmore College economist Steve Golub.
Struggling to raise cash for future pensions without bigger taxpayer bailouts, state workers' and teachers' retirement plans in the last dozen years or so have sought higher returns by betting on "alternative" investments not traded on public markets: hedge funds, real estate, private equity.

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