By Liz Farmer, includes “A growing body of evidence shows that "alternative investments" may be lowering returns and costing state and local governments more. … But Jeff Hooke, a visiting fellow for the right-leaning Maryland Public Policy Institute who has been critical of pension systems that invest heavily in alternatives, argues the real winners in this larger trend are the Wall Street bankers who make money from the high fees associated with these investments. … Fitch’s report backs up Hooke's claim.”