A key insider, and one of the very few people who has participated in the process of the CalPERS board selecting CEOs, has spoken out against the Board’s backing of Frost in the face of her lies in the most blistering terms.
Terry McGuire was one of then State Controller’s designees. In his letter to all members of the board yesterday, McGuire makes clear that only Frost herself could be the source of the false story that she was working on a dual degree at The Evergreen State College, or frankly any degree whatsoever. He also says that she could have tidied up this whopper either by pursuing a degree or clearing up the record, but she did neither. McGuire also indicates that he has spoken to some board members privately. One can infer that he wrote this letter out of a recognition that they were not prepared to to the right thing and oust Frost.
Please circulate this letter widely. If I get a better image, I will replace the one below, which is still readable.CEO Frost.pdfsigned (3)