Bill Lerach

WILL YOUR PENSION FUND HAVE ENOUGH MONEY WHEN YOU RETIRE? PENSION UNDER-FUNDING IS A “TICKING TIME BOMB” EXPERT WARNS

 

Calls for end to Wall Street fund managers speculating with retirees' money

 

"Don't let anyone tell you that the problems with public pensions are the results of groups of avaricious kindergarten teachers and DMV workers...The fault lies with Wall Street. They abused these funds--while pocketing billions to run them into the ditch." -- William Lerach

By Miriam Raftery
 

May 10, 2011 (La Mesa) – “What might we be able to do to avoid financial Armageddon?” asked William Lerach, who led prosecutions against some of America’s most powerful corporations including ENRON, recovering billions for defrauded shareholders. “Next year, 77 million baby boomers will hobble into retirement.”  He warned that corruption and mismanagement by Wall Street managers has led to public and private pension funds that are severely underfunded. He calls the situation a “ticking time bomb” -- and proposes a solution.

ARE U.S. PENSION FUNDS ABOUT TO FAIL? CORPRATE LEGAL EXPERT WILLIAM LERACH TO OUTLINE TROUBLING FORECAST MAY 4 IN LA MESA

May 2, 2011 (La Mesa) – William S. Lerach has spent his career heading up prosecutions of some of Wall Street’s biggest corporate crooks. He's recovered billions of dollars for defrauded shareholders from big banks, corporations, accounting firms and insurance companies. After his most notable success—recovering $7.2 billion for defrauded shareholders of Enron—he appeared in the Oscar-nominated documentary, “Enron, the Smartest Guys in the Room.”

A frequent commentator on economic matters as well as securities and corporate law, Lerach now makes a chilling prediction: that America’s public and private pension funds are poised to fail.  The new financial crisis will threaten the financial security of retirees due to the actions of Wall Street, he warns.