"A republic, if you can keep it." Vegas, taxes.
"A republic, if you can keep it." Vegas, taxes.
The recent report on CalPERS was scathing in its detailing of alleged corruption, kickbacks and bribes at the highest level. Former CalPERS CEO Fred Buenrostro and board member Alfred Villalobos have already been sued by California, and the attorney in…
In the wake of cratering pension fund returns and the filing of lawsuits against two former top employees, CalPERS, the giant California pension fund, commissioned a report by D.C. law firm Steptoe and Johnson. The report is scathing, saying former…
In May 2010, then Attorney General and now Governor Jerry Brown filed lawsuits against former California Public Employees Retirement System (CalPERS) board member Alfred Villalobos and former CalPERS CEO Fred Buenrostro for fraud, failure to disclose gifts, and Villalobos bribing…
Attorney General Jerry Brown promises more to come, including quite possibly criminal charges. Today, two former high-ranking CalPERS [the California public pension fund] officials were sued for fraud while acting as placement agents for investment firms wanting CalPERS to invest…
Stanford University recently released an analysis of the three big public pension funds in California saying they are woefully underfunded, with a potential shortfall of over $500 billion, much larger than their publicly stated shortfall of $55.4 billion. They based…