The Central States Pension Fund was founded by Jimmy Hoffa in 1955 and became a piggy bank for massive embezzlement and financing of organized crime. The Capital Research Center has a complete history of this colorful fund (https://capitalresearch.org/app/uploads/LW1602-final-draft-160202.pdfFresh) but suffices it to say it has always been massively underfunded because of the money criminally diverted. Until now.

Solvent thanks to a massive $35.8 billion bailout from the Biden administration, the Central States Pension Fund hired Blackrock (who else?) as its investment manager and is now petitioning the court to dissolve its consent decree, which has provided court oversight of the fund since its executives were all convicted of crimes back in the Hoffa Sr. era.

We don’t know what would be more outrageous. The union asking for the end of the consent decree or a court agreeing to this shameless request.