Category Archives: Private equity

State Officials Try to Hide Their Private Equity Oversight Failures by Asking the SEC to Exceed Its Authority

Nothing like elected officials using letter-writing to a weak agency and asking it to exceed its powers to hide the fact that they aren’t willing to do their jobs. And this shirking of duties is particularly grating since these officials, most important of all John Chiang, the State Treasurer of California, Thomas DiNapoli, the New York State Comptroller, and Scott Stringer, the New York City Comptroller, are powerfully positioned to propose legislation to solve the problem they are trying to fob off on the SEC.

Read more...

California State Treasurer Takes Up CalPERS Private Equity Carry Fee Reporting Lapse After NC Readers Press Him

The top elected official on CalPERS’ board, State Treasurer John Chiang, says he wants CalPERS to get serious about providing carry fee data. That’s a good start, but board members like Chiang need to get serious about addressing how CalPERS’ staff shirks its fiduciary duties and evades board oversight.

Read more...

Time to “Fire” Mary Jo White: SEC Covers Up for Bank Capital Accounting Scam Promoted by Her Former Firm, Debevoise

Pam Martens and Russ Martens published a mind-boggling expose yesterday on how the SEC is refusing to stop an abuse by major banks that increases systemic risk.

Read more...