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Part of the reason CalPers has hundreds of billions of unfunded liabilities is corruption.
"A state lawsuit targeting two top former officials of the California Public Employees' Retirement System could be the first in a series of state and federal actions focused on the nation's largest public pension fund.
"This is not the end of this case or the end of the investigation," said Atty. Gen. Jerry Brown at a Thursday press conference. "Other things could follow," Brown said that information from his investigation or independent investigations could result in more law suits or criminal indictments from a local district attorney, the Fair Political Practices Commission or other law enforcement agencies."
The only way out is to transfer this system to one that is transparent and honest. We have a long to go.
"Corruption is widespread in public pension funds across the country, Siedle said, noting that a bribery scandal that started a year ago in a New York state pension fund has spread to California.
The year-old state inquiry could lead to criminal indictments against the current defendants as well as other securities companies and individuals that did" How many of the Board members and staff are corrupt? Enough to cause a judge to force dozens of more vicious criminals out of prison to make room for the CalPers hordes.
More...
"A state lawsuit targeting two top former officials of the California Public Employees' Retirement System could be the first in a series of state and federal actions focused on the nation's largest public pension fund.
"This is not the end of this case or the end of the investigation," said Atty. Gen. Jerry Brown at a Thursday press conference. "Other things could follow," Brown said that information from his investigation or independent investigations could result in more law suits or criminal indictments from a local district attorney, the Fair Political Practices Commission or other law enforcement agencies."
The only way out is to transfer this system to one that is transparent and honest. We have a long to go.
"Corruption is widespread in public pension funds across the country, Siedle said, noting that a bribery scandal that started a year ago in a New York state pension fund has spread to California.
The year-old state inquiry could lead to criminal indictments against the current defendants as well as other securities companies and individuals that did" How many of the Board members and staff are corrupt? Enough to cause a judge to force dozens of more vicious criminals out of prison to make room for the CalPers hordes.
More...