From the NY Post:
There's no doubt as to who calls the tune in city Comptroller John Liu's shop: the unions who elected him.
It was reported Wednesday that Liu -- whose office manages the assets of five New York City pension funds -- canceled a scheduled meeting this week between fund trustees and the Blackstone Group, an investment firm with whom the funds have had a harmonious relationship for 25 years.
Why kill the meeting?
It seems that Blackstone chief strategist Byron Wien included in his annual forecast last January the rather reasonable observation that taxpayers "literally can't afford the benefits we have given our retirees in state and local governments and we have to change that."
Now, this is no great secret.
And, over the next year, the pension funds deposited $225 million into a Blackstone private-equity fund.
But the wheels were turning.
Now, trustees from three of the five funds -- representing cops, firefighters and civilian employees -- are refusing to meet with Blackstone to discuss new investment strategies until Wien retracts his statement.
Asked by The Post to confirm this, Liu's office would say only, "There is no meeting scheduled. We have no further comment at this time."
Which basically says it all.