Judge Rules Obama Friend Can Be Fired From Running Public Pension Funds

The Chicago Sun-Times reports:

Five Chicago government pension funds have won a six-month court battle to fire the money-management firm founded by a friend of President Barack Obama and a nephew of then-Mayor Richard M. Daley.

Chancery Court Judge John Noble ruled last week in Delaware that the pension funds had sufficient cause to fire DV Urban Realty Advisors, which was formed by Obama’s friend and onetime employer Allison S. Davis and Daley nephew Robert G. Vanecko.

For the past six years, DV Urban has managed $68 million for pension funds representing Chicago teachers, police officers, other city employees and transit workers, investing government workers’ and retirees’ pension money in risky real estate deals that haven’t done well.

Just a reminder: the sleaze Obama was involved with.