Blankenship is another businessman. As such he saved West Virginia when he financed billboards that opposed Joe Manchin’s idea as governor to allow Wall Street to manage pension funds by investing in stocks. Some good ole boy would have made a fortune in commissions while the state would have been exposed to chicanery. That never happened.
What the heck are you talking about? Pension funds are SUPPOSED to invest in stocks as part of a diversified portfolio approach. How the heck would you make the future pension obligations by investing only in bonds? If you were so worried about the commissions you would have the state pension funds utilize Ameritrade, etc.