PPT on the Lancman Libous NYS Pension Justice Bill

1. Presented by: Richard Winsten, Esq. & Barbara Hart, Esq. REFORMING THE NYS MARTIN ACT: A.6060-A (Lancman, Bronson, Roberts, Weprin, Millman, Colton, Gabryszak, Linares, Hooper) S4497-A (Libous, Parker, Savino, Squadron) Legal Rights for Main Street: Pensioners, Madoff Victims, et al.

6. NY Public Pension Fund Losses from Three Financial Companies – Losses from 2008-2009 Reported in millions of dollars -$2,151.8 -$735.3 -$775.5 -$641.0 Total -44.0 -15.2 -18 -10.8 NYCFPF -46.4 -19.1 -14.3 -13 NYCPPF -259.5 -87.8 -110.6 -61.1 NYCTRS -298.4 -101.1 -120.5 -76.8 NYCERS -353.7 -134.2 -25.6 -193.9 NYSTRS -1,149.8 -377.9 -486.5 -285.4 NYSLRS Total Citigroup Bank of America AIG

8. NYC & State Public Pension Fund Losses from Wall Street Meltdown Reported in billions of dollars -28.33% -$31.4 $79.5 $101.9 $110.9 Total, NYC -25.6% -$109.6 $262.9 $353.5 $372.5 Total -29% -0.6 1.5 2.0 2.2 BOERS -23% -1.6 5.6 6.8 7.2 NYCFPF -20% -4.5 17.4 21.1 21.9 NYCPPF -38% -14.1 23.1 32.3 37.1 NYCTRS -25% -10.6 31.9 39.7 42.5 NYCERS -31% -32.4 72.5 95.8 104.9 NYSTRS % assets lost 2yr Losses 6/30/09 Net Assets 6/30/09 Net Assets 6/30/08 Net Assets 6/30/07 -29% -45.7 110.9 155.8 156.6 NYS&LRS % assets lost 2yr Losses 3/31/09 Net Assets 3/31/09 Net Assets 3/31/08 Net Assets 3/31/07

9. NYS and Local Gov’t Employer Contributions

11. NYC Pension Contributions

12. Lawsuits Filed in NYS Courts by TARP recipient Financial Institutions Source: NYS Unified Court System 2134 8020 4238 Yearly Totals Yearly Totals Yearly Totals 311 55 170 86 SunTrust Banks 0 0 0 0 Regions Financial 539 91 258 190 M&T Bank 62 55 6 1 CIT Group 72 28 29 15 Citigroup 48 8 26 14 AIG 7596 1312 3901 2383 Wells Fargo 1 0 0 1 US Bancorp 239 5 26 208 PNC Financial 10 5 1 4 Morgan Stanley 620 95 360 165 JP Morgan 5 2 2 1 Goldman Sachs 377 108 199 70 Capital One Financial 0 0 0 0 Boston Private 1005 24 608 373 Bank of New York Mellon 2944 293 1987 664 Bank of America 563 53 447 63 American Express Bank Totals 2008 Cases 2009 Cases 2010 Cases Company

13. Home Repossession Rates NYS and Nationwide – an interesting trend Source: NYTimes

14. Wall Street’s Repeat Offenders Source: http://www.nytimes.com/interactive/2011/11/08/business/Wall-Streets-Repeat-Violations-Despite-PromisesStsssss.html?ref=business An analysis of Securities and Exchange Commission documents by The New York Times found that since 1996, there have been at least 51 repeat violations by many large Wall Street firms.

15. Wall Street’s Repeat Offenders pt. 2

17. Public Opinion on Financial Reform & Unfair Practices Siena College Research Institute – August 22-31, 2011 (805 NYS Residents); MOE +/- 3.5%