Calipers way back when Pete Wilson was govt and earlier was decent. Now it is a pile of money the Dems just loot. They teachers and other liberals voted for it and voted in people to rob them.
This sounds like an explosive story with implications for all state pension funds.
I am deeply worried about the financial situation in California. This story sounds like another massive crack in the foundation. As goes California finance so goes the nation, and New York is in horrible financial shape as well. I can’t begin to imagine the horrors if both California and New York begin to default.
I wonder if this story is a portend of things to come if Social Security were to be privatized. I hope someone with more knowledge on this will comment.
ps - I think New Jersey is under investigation by the S.E.C. for the same kind of pension fraud.
¨No pension for you¨ bump.
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This is the kind of service we get from California’s abysmal State and Local Governments : YouTube Search = Sewer Soon City Police Misconduct
I wish somebody would nuke this horrible disgusting corrupt State of government workers and their welfare / illegal alien underclass parasites!
If we had honest investigators, Bill Clintoon and his pack of elite California thieves and Gray Davis would go to jail for the rest of their lives.
Their looting of Cal Pers makes Madoff look like a petty 7/11 thief.
Five years ago in April, I discussed the Burkle/Clintoon/Davis connections with Yucaipa the so called CalPers financial managing firm with a friend and his wife, a newly retired teacher.
She looked like she was in shock, and her husband asked me to send him links to what I discussed.
I sent him the Yucaipa key word link from Free Republic.
That basically ended our friendship, his wife went into a stage of depression and blamed me for exposing CalPers. She blamed me for setting off her depression when I told them about Yucaipa, Burkle/Clintoon Davis et al and the links I sent to her husband.
Since, then size/scope of the Yucaipa/CalPers fiasco has grown. In spite of a fair amount of coverage by the mediots, the retired with CalPers don’t want to hear nor read about it.
Do a keyword search on Yucaipa for a sad trail of theft and fraud for over a decade.
this is more complex then many realize. Many people have 401/457 personal contributions/investments in calpers as well as home mortgages.
CA is filled with selfish people who will drag the rest of this country to hell with them.