Posts Tagged ‘CalPERS’

Fresh evidence that Jerry Brown’s pension fix fixed little

Wednesday, July 10th, 2013

July 10, 2013 By Chris Reed The aura of self-congratulation surrounding the governor's office is particularly intense when it comes to the pension reform measure that Jerry Brown got through the Legislature in September. But I'm not like some other Cal Watchdog contributors who consider the measu...

No, the recession is not to blame for the pension crisis

Friday, July 5th, 2013

July 5, 2013 By Chris Reed Perhaps the single smartest guy in the Schwarzenegger administration, David Crane, continues to be a wrecking ball when it comes to the arguments offered by apologists for California's ruinous state finances. In his latest Bloomberg News column, Crane takes on the defend...

CA public sector: Laws? We don’t need no stinking laws

Sunday, May 12th, 2013

May 12, 2013 By Chris Reed In the private sector, there are all kinds of laws that govern employment, conduct, conflict of interest and appropriate use of shareholder funds. They may not always be enforced, but in the best-run companies, they are usually taken seriously. In the public sector, the...

Seniors decry CalPERS long-term care rate hikes

Friday, May 10th, 2013

May 10, 2013 By Dave Roberts If you’re curious what health care insurance might be like when the government takes it over, a preview was provided on Tuesday at an informational hearing of the Assembly Committee on Aging and Long-Term Care. State Capitol Room 127 was packed with seniors angry abo...

LAT’s Steve Lopez: Pension crisis real — not unions’ fault. Huh?

Wednesday, April 24th, 2013

April 24, 2013 By Chris Reed The unsustainability of the public employee pension system in California has been obvious for at least six or seven years to anyone who understood two simple facts: the demographics of our aging government workforce and the irrationality of CalPERS' argument in 1999 th...

SEC charges Chicago-based investment adviser with defrauding CalPERS

Thursday, April 18th, 2013

April 18, 2013 By Josephine Djuhana The SEC released a statement today, charging Chicago-based investment advisory firm Simran Capital Management with lying to CalPERS regarding the amount of money managed by the firm. The president and sole owner of the firm, Umesh Tandon, is alleged to have made...

California government as organized looting, chapter 237

Friday, April 5th, 2013

April 5, 2013 By Chris Reed The longer I've lived in California, the more governance here seems to resemble organized looting of taxpayers. It's not just the showy and ridiculous things, like the longtime president of the CalPERS governing board being a top official in the California Federation of...

Bankruptcy judge rejects CalPERS’ claim to protected status

Wednesday, April 3rd, 2013

April 3, 2013 By Chris Reed As John Seiler pointed out here Tuesday, Monday's court ruling by U.S. Bankruptcy Judge Christopher Klein isn't seen as definitive. Yes, the city of Stockton can proceed with its bankruptcy filing. No, Klein doesn't yet agree with the city's plan to only short bondhold...

Steve Maviglio, pension sage: Why it’s a laughable spectacle

Tuesday, April 2nd, 2013

April 2, 2013 By Chris Reed Steve Maviglio, a leading consigliere to top Sacramento Democrats for more than a decade, now regularly pretends to  a new role. Even though he's on Speaker John Perez's payroll, Maviglio offers himself up on Twitter in the quasi-journalistic role of reasoned, reasonab...

CalPERS boss: Losses on ‘cleantech’ bets are ‘noble’

Saturday, March 23rd, 2013

March 23, 2013 By Chris Reed It's not just President Barack Obama and Gov. Jerry Brown who have drank the green Kool-Aid and bought into the idea that "green" jobs and energy can be America's economic salvation. It's also that lumbering, bumbling, scandal-ridden monument to all that is bad about ...