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Detroit Emergency Manager Says Mismanagement Must Be 'Overwhelming' before He'll Take Over City Pension
The Detroit News 
Aug. 29, 2013
"Emergency Manager Kevyn Orr said ... he would need 'overwhelming' evidence of alleged waste and investment mismanagement within city pension funds before he would consider taking control of a retirement system worth more than $5 billion. Orr is awaiting final results of a joint investigation by the city's auditor and inspector generals and an analysis of the retirement system's financial health before deciding whether he should oust pension fund members -- an option available to him under Michigan's emergency manager law."
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