Last week, I wrote an article about hedge fund king Dan Loeb's involvement with StudentsFirstNY, a group that lobbies against defined benefit plans in public-sector retirement funds. What made that story interesting was that Loeb takes money from defined benefit plans, so turning around and supporting a group that campaigns against guaranteed benefits for teachers and other public-sector workers seemed like a peculiarly ugly form of betrayal, particularly coming from someone who doesn't need to worry too much about his own retirement.
