The Central States Pension Fund Executive Director, Thomas Nyhan has lost $10 billion on his watch. One of the banks responsible, in part, for the losses, the Northern Trust Group, is still the Fund’s named fiduciary. This same bank somehow managed to lose $1.2 billion in the third quarter of 2014. Nyhan hasn’t replaced the bank, objected to the losses, or used ERISA law to have the losses restored to the pension fund. Nyhan has said he “doesn’t blame the banks for the steep losses.” There is no accountability.