Category Archives: Legal

It’s Time for a Debt “Jubilee”

Households and businesses are overloaded with debt. Richard Vague offers a set of proposals for how to restructure it.

Brexit: Snake Eyes

Boris Johnson is pressing his Brexit luck, which wasn’t looking all that hot.

Trump’s Eviction Moratorium Opens the Door for Medicare for All by Executive Order

Since Covid-19 will be with us till at least the end oe 2021 (and I suspect longer), it opens the path for emergency Medicare for All.

CalPERS Cooks Its Books: Grossly Understated Investment Consultant Meketa’s Expenses in Annual Financials; Made a Criminal False Account by Burying the Cost

CalPERS violates accounting rules by hiding outside consulting costs in internal investment overheads. None of the possible reasons are good.

Brexit: Pear Shaped

A desperate Government Brexit ploy, perhaps conceived to increase its negotiating options, has quickly become an own goal.

Another Compliance Failure: CalPERS Discussed Recusal of Ex-CIO Ben Meng but Failed To Enforce It; CEO Marcie Frost Says “Not My Job”

CalPERS CEO Marcie Frost told the press that she’s punting on her compliance duties.

Influential California State University Council Calls for CalPERS CEO Marcie Frost to Go on Administrative Leave During Investigation by Inspector General

A CSU group has asked Gavin Newsom to put CalPERS CEO Marcie Frost on administrative leave while an inspector general probes governane failings.

Hoboken, New Jersey Sues Oil Industry for Climate Impacts From its ‘Deceptive Actions’

New Jersey has now filed lawsuits to pin liability on fossil fuel interests for climate change, with the city of Hoboken being the latest.

CalPERS Staff Yet Again Tries to Usurp Board’s Power by Steering Governance Reforms After CIO Ben Meng Departure

CalPERS staff is too obviously still trying to stymie Controller Betty Yee’s governance reforms.

How CalPERS Staff Keeps the Board in the Dark About Compliance Problems

CalPERS has long covered up its dirty linen, including by making uninformative presentations to the board.

Could Religious Exemptions Trump a COVID-19 Vaccine Mandate? Well, That Depends

How far could US authorities readily go in implemeting a vaccine requirement?

CalPERS Misappropriates Funds, a Violation of the Criminal Code, By Laundering $40,000 Speaker Fee Through Randle Communications, a Nearly $500,000 a Year Advisor to Marcie Frost

CalPERS is not only hiring overpriced motivational speakers it can’t afford, but it is also cooking its records to do so.

Devastating Lawsuit Targets Bank of America, Credit Suisse, and Bayer Board Members and Executives Over Disastrous Monsanto Acquisition

Is the shortest road to cleaning up bad corporate governance in the EU through New York courts? Bayer is one of a set of test cases.

Former Board Member Jelincic: CalPERS Claims It Is Protecting Confidential, as in Criminal, Informants in Hiding Details About Lending

CalPERS made damaging statements to justify withholding information about private loans. That suggestswhat it was hiding is even worse.

Paltry Flint Toxic Water Settlement: Let’s NOT Kill All the Lawyers (at Least Not Some of Them)

Michigan gets off easy with its $600 million settlement of allegations that lead-tainted water in Flint has caused permanent brain damage for its victims.