Winter 2013, Vol. 23. No. 1.
The Pension Fund That Ate CaliforniaBreaking News
tags: retirement, California, Pension, labor
After spending years dogged by unpaid debts, California labor leader Charles Valdes filed for bankruptcy in the 1990s—twice. At the same time, he held one of the most influential positions in the American financial system: chair of the investment committee for the California Public Employees’ Retirement System, or CalPERS, the nation’s largest pension fund for government workers. Valdes left the board in 2010 and now faces scrutiny for accepting gifts from another former board member, Alfred Villalobos—who, the state alleges, spent tens of thousands of dollars trying to influence how the fund invested its assets. Questioned by investigators about his dealings with Villalobos, Valdes invoked the Fifth Amendment 126 times....
comments powered by Disqus
- New Yorker profiles activist who's drawing attention to lynchings
- Wisconsin GOP senator wants to replace history professors with Ken Burns videos
- UT removes Confederate inscription that it previously said would stay
- The man behind the Smithsonian’s new African-American history museum
- Greece vows pressure on Germany to get WWII reparations
- Some Ohio University professors ditch the textbooks, and the prices
- Renowned Israeli Holocaust Historian: ‘If I Were a British Jew, I’d Be Worried’
- Heather Ann Thompson pries loose the long-kept secrets of Attica in her new book
- Lonnie Bunch remembers his first day on the job as director of the new black history museum
- Speaker Ryan loves pseudo-historian David Barton