As a reaction to damages incurred by Superstorm Sandy – and a timely move, considering the big 12-12-12 fundraiser concert this week – New York City's teacher pension fund has announced that it will invest $1 billion in infrastructure programs across the tri-state area.
According to Reuters, it's the first time that the city's nearly $128 billion in public pension funds will be put towards infrastructure projects, a move which drew the praise of former President Bill Clinton, who helped make the announcement.
"This is a remarkable commitment," Clinton said Thursday. "It represents a very significant step forward … putting us on a path to a sustainable future for New York City.
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