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
- Holocaust Victims Mocked in Ohio State Band Parody Songbook
- Memphis attempt to drop name of Nathan Bedford Forrest runs into state law
- Overlooked: The 25th anniversary of Captive Nations Week
- In confession to historian, George McGovern revealed he had a secret child
- Revised AP U.S. History Standards Will Emphasize American Exceptionalism
- U.K. Released Hundreds of Nazis After the Holocaust, Says Leading Historian
- NYT History Book Reviews: Who Got Noticed this Week?
- Historians Against the War gathering signatures for new resolution to AHA on alleged violations of academic freedom in Israel
- Academic Seeks Death Certificate for Outlaw Billy the Kid
- Murderer of historian of Czech Jewry goes on trial