Blowing Bubbles: Did the City’s Pension Plan Contribute to the Housing Bubble? 

I researched this article about a year ago as part of my investigation of the City’s StopBlight program begun in 2006. My desire as Mayor would be to keep a larger portion of this investment safely at home. I would not normally have an opinion about such things, but the pensions seem to have turned some corner, and is now no longer 100% funded. That money is taxpayer dollars invested directly into the retirements of its employees. If nothing else, we should diversify the offerings available, so that at least those with retirement plans with the city may hedge Wall Street shenanigans with local investments.

http://grandmasterplan.com/gmp/Blowing_Bubbles.html