Winter 2013, Vol. 23. No. 1.
The Pension Fund That Ate Californiatags: 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
- Kissinger Memo from 1972: Make the North Vietnamese think Nixon and I are crazy
- How Much U.S. History Do Americans Actually Know? Less Than You Think.
- Ice cream cone named after Adolf Hitler on sale in India sparks anger in Germany
- Expressing Outrage over Attacks on Cultural Heritage of Iraq, General Assembly Unanimously Adopts Resolution Calling for Urgent Action
- Isis Palmyra demolition has begun with ancient God Lion statue destroyed
- NYT hosts debate including Eric Foner: How Americans should remember Reconstruction
- William Leuchtenburg says historians and the media have been too hard on Obama
- Hugh Ambrose, historian who helped develop WWII Museum, dead at 48
- Historian discounts claim that Churchill and other British PM's were gay
- Nick Bunker Wins $50,000 2015 George Washington Book Prize