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There are loopholes in every law. In San Diego, the pension fund has a limit on salaries for its management. Management is not dumb--form a "non profit", launder the salary money through the "new" organization and the rules still stand.
Corruption is what this is, who goes to jail for spending money illegally, taking illegal money and who goes to jail for stealing from the public?
"San Diego County's pension fund is considering creating a separate nonprofit to manage its investments, which would allow it to avoid county salary rules and perhaps legally outsource internal staff to a private consultant.
The San Diego County Employees Retirement Association's investment staff salaries are capped at $209,372 annually, which CEO Brian White says crimps the available pool of talent.
The association avoided the salary limits last year by hiring consultant Lee Partridge as its chief investment officer, giving him a contract that pays a maximum $4.5 million over three years -- millions more than a comparable county employee would've made. Public records show he's been paid $672,000 in his first seven months on the job."
Why hasn't the San Diego District Attorney stopped this open theft? Why hasn't the Attorney General stop this corruption?
At what point do we admit that government, by its operation, is corrupt and we stop passing bonds, tax increases and vote out of office DA's like the one in San Diego, who by inaction, approve of public theft and corruption?
More...
Corruption is what this is, who goes to jail for spending money illegally, taking illegal money and who goes to jail for stealing from the public?
"San Diego County's pension fund is considering creating a separate nonprofit to manage its investments, which would allow it to avoid county salary rules and perhaps legally outsource internal staff to a private consultant.
The San Diego County Employees Retirement Association's investment staff salaries are capped at $209,372 annually, which CEO Brian White says crimps the available pool of talent.
The association avoided the salary limits last year by hiring consultant Lee Partridge as its chief investment officer, giving him a contract that pays a maximum $4.5 million over three years -- millions more than a comparable county employee would've made. Public records show he's been paid $672,000 in his first seven months on the job."
Why hasn't the San Diego District Attorney stopped this open theft? Why hasn't the Attorney General stop this corruption?
At what point do we admit that government, by its operation, is corrupt and we stop passing bonds, tax increases and vote out of office DA's like the one in San Diego, who by inaction, approve of public theft and corruption?
More...