baker baker
this here is rubber ducky
file this under notable
Should Cameron believe he can go through the motions on this litigation after November, it’s going to be hard to extricate himself, given the dire state of the Kentucky Retirement System finances and the visibility of his involvement to beneficiaries, without clawing a meaningful-appearing amount out of the deep pockets. Even a cost of doing business fine/disgorgement like the big private equity funds paid to settle SEC enforcement actions, on the order of $50 million each, is an expense they would not have faced absent Cameron mixing things up. And a settlement would not be secret; it’s a public record, subject to disclosure.
So what is the political play here? Does McConnell feel the need to bolster his bona fides with Kentucky cops? Recall lead plaintiff Mayberry is an officer. Have the Republicans decided they need to bolster their populist credentials? Recall that the Trump Administration filed an amicus brief in favor of the plaintiffs, as in the lowly pension beneficiaries, in Thole v. US Bank.
Is this revenge? Has Schwarzman or Kravis crossed McConnell? Or has the famously sure-footed and ruthless McConnell miscalculated due to not adequately understanding the terrain? There’s some sort of dark matter exerting force on this equation. It will likely become evident in due course.
https://www.nakedcapitalism.com/2020/07/pathbreaking-public-pension-case-mayberry-v-kkr-is-back-as-kentucky-state-attorney-general-joins-case.html