Category Archives: Ridiculously obvious scams

Leaked Memo by Larry Sonsini Shows Sonsini and CalPERS Violating Fiduciary Duty With Proposed Private Equity Outsourcing Scheme

A leaked memo written for CalPERS by Silicon Valley attorney Larry Sonsisi not only reflects poorly on him and CalPERS, but also validates concerns about corruption.

Finally: SEC Frets about Share Buybacks, “Torrent of Corporate Trading Dominating the Market” and “Short-Term Financial Engineering”

Mirabile dictu, a Republican SEC commissioner criticizes stock buybacks….

McKinsey’s and CalPERS’ Ignorance and Sleight of Hand on Private Equity

McKinesy and CalPERS appear to be kidding themselves at least as much as the general public on the subject of private equity.

Jim Chanos on Fraud: “Cryptocurrency Is a Security Speculation Game Masquerading as a Technological Breakthrough”

The legendary short seller Jim Chanos in a wide-ranging discussion of financial frauds, starting with cryptocurrencies: Bitcoin is the last thing he’d want to own in the event of a catastrophe.

Private Equity Kills Toys R Us, Workers Get No Severance

Toys R Us stores will shutter this month: private equity firms killed the company, and its workers are left with no severance.

Unsafe At Any Speed Redux, Self-Driving Cars, and Legal Liability

Senators seek information on testing protocols for self-driving cars; mandatory arbitration for further lawsuits involving such vehicles looms as a threat.

Hubert Horan: Uber’s Q1 Results – Reporters Show They Aren’t Up to Reading Financials

What was the real story in Uber’s first quarter results?

Beware the So-Called Mental Health “De-Stigmatization” Campaigns such as Make It OK and NAMI, for They Are Front Groups for Big Pharma

On the unsavory role of mental health advocacy groups.

Charles Asubonten Has Left CalPERS; Los Angeles Times’ Mike Hiltzik Questions Competence of Executives

Chief Financial Officer Charles Asubonten has exited CalPERS.

Bill Black: Trump Admin Halts Investigation of For-Profit Colleges

Bill Black discusses Education Secretary Betsy DeVos’s decision to stop investigating for-profit colleges and educational institutions for fraudulent practices.

Criminality, CalPERS Style: Board Members Misappropriate Public Funds by Signing Blank, Undated Expense Forms

The CalPERS Board President, Priay Mathur, the Board Services Unit, and board members are pre-signing expense forms in violation of the California Penal code.

Election-Rigging, CalPERS-Style: How Voting by Phone Was Designed to Favor Incumbent, Suppress Support for Challenger

CalPERS not only looks to have tried to throw the phone voting in a runoff election last year in favor of the incumbent, but it is acting awfully guilty by refusing to cough up records and data.

CalPERS Has Chief Financial Officer Charles Asubonten, With Verifiable Misrepresentations on His Resume, Presenting to the Board Next Week. What Gives?

CalPERS CEO Marcie Frost appears to be doubling down on her initial bad judgment about Chief Financial Officer Charles Asubonten’s resume misrepresentations by featuring him prominently at a board committee meeting next week.

Airbnb Turns to Brussels for Help as Anti-Tourist Backlash Intensifies in Europe

Airbnb is on the run in Europe and desperate to find allies.