Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
The Republicans asking questions about this pension fund plan. They
(00:03):
want to know, is it more about keeping the sun
in Connecticut or actually delivering returns for the pension fund.
Speaker 2 (00:09):
I have to ask the first question is this, I'd
say the ladder mike for economic development. For economic development,
the pension fund is not appropriate.
Speaker 1 (00:18):
Seeking more details on the proposed plan to invest in
the Connecticut Sun, a roster of Republicans took to the
microphone Thursday morning, criticizing the governor for not providing more
specifics and calling for more oversight of pension fund investments.
Governor Lamont preemptively hitting back at a press conference of
his own.
Speaker 3 (00:36):
They have a constructive alterargative, they dis criticizing from the sidelines.
Do they think we shouldn't be fighting to keep the
Connecticut Sun here?
Speaker 2 (00:43):
No, don't hold them back.
Speaker 3 (00:44):
We ought to do it.
Speaker 1 (00:45):
Let them go say they're open to hearing out any
plan to keep route and wing.
Speaker 2 (00:50):
If I get told it all the time.
Speaker 1 (00:51):
That subject to additional scrutiny. The state Treasurer currently acts
as the principal fiduciary for pension funds. The GOP has
long argued that more people need to be involved in
decision making.
Speaker 4 (01:03):
We are speaking to a broader problem of what is
the best policy to devolve power and responsibility rather than
concentrate it all in a single elected official.
Speaker 1 (01:14):
State Treasurer Eric Russell has always defended his offices oversight
of the pension funds, rejecting the characterization that he's the
sole decision maker, adding any decision to invest state pension
funds would be guided by the goal of achieving the
best risk adjusted returns for the retired teachers and dedicated
state workers who depend on us for their retirement security. Still,
the Republicans hammer their original question, is this proposed investment
(01:37):
solely driven by a desire to deliver returns for pensioners,
or are state leaders perhaps also motivated by fear of
losing a pro sports franchise. The governor has signaled both
interests are on his mind.
Speaker 5 (01:50):
In one sense, he initially comes out and says, well,
we have to find a way to keep the team here,
and then all of a sudden, we he determines that
the pension funds is the vehicle by which he's going
to do that sudden it's because it's a great investment.
So which is a governor is it a great investment.
Or are using this essentially for corporate welfare.
Speaker 3 (02:06):
I think it's a good investment. I can tell you that, well,
hegan Son invested ten million and now they've got a
bit on the table for three hundred and twenty million.
Speaker 1 (02:17):
And another wrinkle in all this is it appears as
though the race for governor next year is getting implicated
in all this. You saw there Ryan Fozzio speaking, he's
competitive for governor. The governor himself not yet a candidate,
but very strongly appears to be leading that direction. So
that's just another dynamic to watch as this saga unfolds.
Speaker 2 (02:34):
Truly, see, Look, I'm trying to understand the mathematics of
it all. The pension reform that we keep talking about,
I don't necessarily see taking place. I've heard from some
people that I've come to trust and respect that it
is because that's what keeps Connecticut in the red, these
(02:56):
exorbitant pensions that got coughed up for state workers in
the eighties. I don't understand how using pension funds to
invest in keeping a sports team here, Why doesn't that
worry those counting on these pensions, the state employees, If
(03:18):
not the teachers. Why are they not freakd the you
know what out by the fact that he's doing what
was the pension funds to key, He's throwing it at
the Connecticut sun. You know, that's not a pot shot
at the sun, and I think the sun is expressed
or interest in wanting to grow and wanting to move
and wanting to leave. It's a bizarre play by Lamont.
(03:41):
Welcome to the show. Thanks for holding good morning.
Speaker 6 (03:44):
First of all, the pension fund is millions of dollars
in the hole in the red. So taking the money
that we so called have and putting towards this is
not possible.
Speaker 2 (03:54):
And it's not even by.
Speaker 6 (03:55):
Taking it's like taking the rent money and putting it
on a lottery. And you know, at the end of
the day, we pay thousands of dollars every year with
the Connecticut income tax to supplement state government. And what
we got now are bad roads, a marginal school system
in many communities, and also a criminal justice system is
not up to par. And you know, the quality of
(04:17):
life in Connecticut in the last thirty forty years has
definitely decreased. We're losing businesses left and right. Most people
leave Connecticut they do not come here, and we're worried
about a failed organization in the sports world. If they
were so good, they would be drawing crowds. If it
wasn't for Caitlin Clark, that whole organization is in the red.
(04:41):
And I don't think it's for a daily taxpayer. It's
the last thing on my mind to worry about a
sports franchise. And you know, all we care about in
this state is the good feel things, pizza and you know,
good field things, but nothing for the people paying the bills.
You and I are paying the bills there. And it's
bad enough that my taxes supplement News Haven's budget and
(05:04):
other major cities budgets. And I don't agree with their
policies either. And the end of the day, you and
I are paying the frame. As far as the teachers go,
they're in bed with the Democratic Party, which is against
you and I and against the taxpayers. At the end
of the day, they know they're not going to go
belly up because they have that income tax. That income
tax is destroyed Connecticut. I made that comment when it
(05:26):
was passed in ninety one that this will hurt the
state long run. It's a license to spend, not a
license to investment.
Speaker 2 (05:34):
And let me ask you this question with one minute
on the clock. These last couple of months, I mean,
we've got a cannibal being released back onto the streets
because he's too violent for jail. I'm sure you're aware
of the story. Maybe you're not. We've got gang violence
in Hartford and New Haven. Midday taking the lives of
(05:54):
our youth, of people passing by, has LaMonte commented on
any thing other than basketball and pizza.
Speaker 6 (06:05):
He does not have to because the end of the day,
this is a one party rule state. And I'm not
saying the Republicans are forgiven here, but we have a
one party state. He could actually take his middle finger,
which he has in his own way, and stick it
in our eye and we would say, can I have another, sir,
because you have one party in power? And I again
(06:27):
I blame the voters.
Speaker 2 (06:28):
But that will add every day I do every day
The Republicans asking questions about this pension fund plan. They
(00:03):
want to know, is it more about keeping the sun
in Connecticut or actually delivering returns for the pension fund.
Speaker 2 (00:09):
I have to ask the first question is this, I'd
say the ladder mike for economic development. For economic development,
the pension fund is not appropriate.
Speaker 1 (00:18):
Seeking more details on the proposed plan to invest in
the Connecticut Sun, a roster of Republicans took to the
microphone Thursday morning, criticizing the governor for not providing more
specifics and calling for more oversight of pension fund investments.
Governor Lamont preemptively hitting back at a press conference of
his own.
Speaker 3 (00:36):
They have a constructive alterargative, they dis criticizing from the sidelines.
Do they think we shouldn't be fighting to keep the
Connecticut Sun here?
Speaker 2 (00:43):
No, don't hold them back.
Speaker 3 (00:44):
We ought to do it.
Speaker 1 (00:45):
Let them go say they're open to hearing out any
plan to keep route and wing.
Speaker 2 (00:50):
If I get told it all the time.
Speaker 1 (00:51):
That subject to additional scrutiny. The state Treasurer currently acts
as the principal fiduciary for pension funds. The GOP has
long argued that more people need to be involved in
decision making.
Speaker 4 (01:03):
We are speaking to a broader problem of what is
the best policy to devolve power and responsibility rather than
concentrate it all in a single elected official.
Speaker 1 (01:14):
State Treasurer Eric Russell has always defended his offices oversight
of the pension funds, rejecting the characterization that he's the
sole decision maker, adding any decision to invest state pension
funds would be guided by the goal of achieving the
best risk adjusted returns for the retired teachers and dedicated
state workers who depend on us for their retirement security. Still,
the Republicans hammer their original question, is this proposed investment
(01:37):
solely driven by a desire to deliver returns for pensioners,
or are state leaders perhaps also motivated by fear of
losing a pro sports franchise. The governor has signaled both
interests are on his mind.
Speaker 5 (01:50):
In one sense, he initially comes out and says, well,
we have to find a way to keep the team here,
and then all of a sudden, we he determines that
the pension funds is the vehicle by which he's going
to do that sudden it's because it's a great investment.
So which is a governor is it a great investment.
Or are using this essentially for corporate welfare.
Speaker 3 (02:06):
I think it's a good investment. I can tell you that, well,
hegan Son invested ten million and now they've got a
bit on the table for three hundred and twenty million.
Speaker 1 (02:17):
And another wrinkle in all this is it appears as
though the race for governor next year is getting implicated
in all this. You saw there Ryan Fozzio speaking, he's
competitive for governor. The governor himself not yet a candidate,
but very strongly appears to be leading that direction. So
that's just another dynamic to watch as this saga unfolds.
Speaker 2 (02:34):
Truly, see, Look, I'm trying to understand the mathematics of
it all. The pension reform that we keep talking about,
I don't necessarily see taking place. I've heard from some
people that I've come to trust and respect that it
is because that's what keeps Connecticut in the red, these
(02:56):
exorbitant pensions that got coughed up for state workers in
the eighties. I don't understand how using pension funds to
invest in keeping a sports team here, Why doesn't that
worry those counting on these pensions, the state employees, If
(03:18):
not the teachers. Why are they not freakd the you
know what out by the fact that he's doing what
was the pension funds to key, He's throwing it at
the Connecticut sun. You know, that's not a pot shot
at the sun, and I think the sun is expressed
or interest in wanting to grow and wanting to move
and wanting to leave. It's a bizarre play by Lamont.
(03:41):
Welcome to the show. Thanks for holding good morning.
Speaker 6 (03:44):
First of all, the pension fund is millions of dollars
in the hole in the red. So taking the money
that we so called have and putting towards this is
not possible.
Speaker 2 (03:54):
And it's not even by.
Speaker 6 (03:55):
Taking it's like taking the rent money and putting it
on a lottery. And you know, at the end of
the day, we pay thousands of dollars every year with
the Connecticut income tax to supplement state government. And what
we got now are bad roads, a marginal school system
in many communities, and also a criminal justice system is
not up to par. And you know, the quality of
(04:17):
life in Connecticut in the last thirty forty years has
definitely decreased. We're losing businesses left and right. Most people
leave Connecticut they do not come here, and we're worried
about a failed organization in the sports world. If they
were so good, they would be drawing crowds. If it
wasn't for Caitlin Clark, that whole organization is in the red.
(04:41):
And I don't think it's for a daily taxpayer. It's
the last thing on my mind to worry about a
sports franchise. And you know, all we care about in
this state is the good feel things, pizza and you know,
good field things, but nothing for the people paying the bills.
You and I are paying the bills there. And it's
bad enough that my taxes supplement News Haven's budget and
(05:04):
other major cities budgets. And I don't agree with their
policies either. And the end of the day, you and
I are paying the frame. As far as the teachers go,
they're in bed with the Democratic Party, which is against
you and I and against the taxpayers. At the end
of the day, they know they're not going to go
belly up because they have that income tax. That income
tax is destroyed Connecticut. I made that comment when it
(05:26):
was passed in ninety one that this will hurt the
state long run. It's a license to spend, not a
license to investment.
Speaker 2 (05:34):
And let me ask you this question with one minute
on the clock. These last couple of months, I mean,
we've got a cannibal being released back onto the streets
because he's too violent for jail. I'm sure you're aware
of the story. Maybe you're not. We've got gang violence
in Hartford and New Haven. Midday taking the lives of
(05:54):
our youth, of people passing by, has LaMonte commented on
any thing other than basketball and pizza.
Speaker 6 (06:05):
He does not have to because the end of the day,
this is a one party rule state. And I'm not
saying the Republicans are forgiven here, but we have a
one party state. He could actually take his middle finger,
which he has in his own way, and stick it
in our eye and we would say, can I have another, sir,
because you have one party in power? And I again
(06:27):
I blame the voters.
Speaker 2 (06:28):
But that will add every day I do every day
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