Teachers Union Blasts Hedge Funds For Undermining Benefits

Law360, New York (April 18, 2013, 6:41 PM EDT) -- A major teachers' union on Thursday accused hedge fund managers of taking pension funds' cash capital while simultaneously pushing policies that undermine public retirement banks, teacher tenure and other perks close to the heart of organized labor.

The American Federation of Teachers took aim at 33 fund mangers, including some of Wall Street's most successful: Dan Loeb's ThirdPoint Capital LLC, Paul Singer's Elliot Management Corp., Appaloosa Management and Carl Icahn. All are affiliated — either as donors, board members or trustees — with three organizations the...
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