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peHUB Second Opinion 9.2

Salt In The Wound: New York State’s $116 billion pension fund lost money on five of 12 of the private equity investments cited in federal and state corruption probes, the state comptroller said on Wednesday. (peHUB)

Fresh Capital: China Life Insurance is considering a move into private equity investments. (Alt Assets)

Hey Buyout Shops: You’re at a turning point. What do you do? (Newsweek)

Wow: This bank is running running a cash-for-cheese loan scheme with some Parmigianino Reggiano worth $200 million. (BBC)

What’s the New Normal? Can we identify any fundamental shifts in the model, changes that will last for 3-5 years, not 3-5 months? (Carried Interest)

Bankers Only Have Themselves to Blame: Banks claim they are only paying their staff the market rate and that failure to do so would damage their businesses. But that misses the point. (Heard on the Street)

AIG is paying too many Fees: The New CEO Benmosche wants to change that. (Bloomberg)

For Fun: The New York Times’ absurd #@&*%@# correction. (Regret the Error)