CalPERS is so confident of its control over its board that it has no compunction about broadcasting how little respect it has for them.
Read more...Why the CalPERS carry fee disclosure could affect the debate over ending the carried interest loophole.
Read more...CalPERS CEO and its tainted fiduciary counsel Robert Klausner try to sell the CalPERS board on giving up even more power, when CalPERS clearly needs more, not less, oversight.
Read more...Private equity limited partners are such chumps that they rely on a trade group, ILPA, to lobby for them when it is funded by their opponents.
Read more...Announcing a series that shows how CalPERS’ efforts to defend its private equity program through a workshop for its board backfired.
Read more...CalPERS’ board has hired a fiduciary counsel, Robert Klausner, who has been associated with scandals for over a decade, the latest in Jacksonville, Florida.
Read more...CalPERS’ CEO and its staff are engaged in systematic, flagrant, and apparently long-standing violations of California’s open meeting law, the Bagley-Keene Act.
Read more...We infromed theCalPERS’ board members that the manner in which they had awarded bonuses and salary increases to CalPERS executives fell short of the requirements of the Bagley-Keene Open Meeting Act of 2004. CalPERS took some steps to address the lapse.
Read more...Efforts at greater fee transparency at the New York City public pension fund and CalSTRS are still largely exercises in improving optics.
Read more...An internationally recognized tax expert told me a few months ago that the widely-mislabeled “carried interest” loophole was on its deathbed. A new PBS video lends some support to this bold call.
Read more...Earlier this month, we excerpted a section of a panel discussion from an SEC securities enforcement conference. It showed the degree to which former senior SEC officials who’ve gone into private practice openly ridicule the idea that the SEC should do its job, for instance, by deriding enforcement as “gotcha”. Today, we’ll look at the […]
Read more...IBM discovers that financial engineering bites back.
Read more...Oxford professor Ludovic Phalipoou uses a recent CalPERS board meeting as a teaching tool in his private equity class. Even with him bending over backwards to be fair, the results are seldom flattering to CalPERS.
Read more...The heart of the SEC’s mission is disclosure, providing enough information to investors so they can make reasonable choices about stock and bond offerings. Without disclosure you don’t really have an SEC, and you put investors – and potentially the whole economy – at risk. But the commission is striving to hit that self-destruct button, by allowing new rules that would make it much easier for companies to hide their activities. And it’s highly likely that this reaches all the way to the office of SEC Chair Mary Jo White.
Read more...An interview with Michael Hudson on his latest book, Killing the Host, which focuses on the destruction wrought by financial capitalism.
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