Did High Fees & Poor Performance Cost NYC Pensions $2.5B?

Host Rafael Pi Roman talks with Steve Malanga, senior fellow at the Manhattan Institute, and James Parrott, deputy director and chief economist at the Fiscal Policy Institute about the New York City Comptroller’s report that poor performance from Wall Street money managers and high fees cost the city’s pension system $2.5 billion dollars in “lost value” over the past 10 years.