Pension 
-
SOURCE: CityJ
Winter 2013, Vol. 23. No. 1.
The Pension Fund That Ate California
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....
News
- Lawrence Otis Graham, 59, Dies; Explored Race and Class in Black America
- How Negro History Week Became Black History Month and Why It Matters Now
- A Harvard Professor Called Wartime Sex Slaves ‘Prostitutes.’ One Pushed Back
- African-American Sacrifice in the Killing Fields of France
- The Future of the Middle Class Depends on Student Loan Forgiveness
- A Chapter In U.S. History Often Ignored: The Flight Of Runaway Slaves To Mexico
- For Many, an Afro isn’t Just a Hairstyle
- With Free Medical Clinics and Patient Advocacy, the Black Panthers Created a Legacy in Community Health That Still Exists Amid COVID-19
- With a Touch of Wisdom: Human Rights, Memory, and Forgetting
- New Exhibit Reckons With Glendale's Racist Past as ‘Sundown Town'