Morgan Stanley Coughs Up $150M for California Pension Losses

More than a decade after the bottom fell out the U.S. economy and the housing market tanked, multinational investment company Morgan Stanley has agreed to pay California $150 million to settle claims the company hid the riskiness of mortgage-backed securities sold to the state’s public employee pension funds.

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Ousted Tennessee Lawmaker Fights for Retirement Benefits

Facing skepticism from a Sixth Circuit panel, a lawyer representing a former lawmaker expelled from the Tennessee House of Representatives for sexual harassment allegations argued he had standing to sue the state in federal court because it took away his pension and lifetime health insurance.

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