CalPERS lied to the wrong person. State Senator Dr. Richard Pan is smart enough to know he was snookered when word gets back to him.
Recent Items
Friday, August 15, 2025
CalPERS Chief Investment Officer Ben Meng Lied About Private Equity to State Senator Dr. Richard Pan at Joint Pension Committee Hearing
Topics: Banana republic, CalPERS, Corporate governance, Investment management, Private equity
Posted by Yves Smith at 9:40 pm | 29 Comments »
CalPERS’ Management Continues to Lie to Its Board and Beneficiaries About Its Private Equity Scheme
CalPERS is once again up to no good on the private equity front.
Topics: Banana republic, CalPERS, Corporate governance, Private equity
Posted by Yves Smith at 9:40 pm | 15 Comments »
The Financial Crisis Was a Minsky Moment but We Live in Strange Times
Why has Susan Strange been reputationally short changed as an expert in financial instability?
Topics: Doomsday scenarios, Guest Post, Ridiculously obvious scams, The dismal science
Posted by Yves Smith at 3:45 pm | 21 Comments »
2:00PM Water Cooler 2/18/2019
Today’s Water Cooler: Open thread
Topics: Water Cooler
Posted by Lambert Strether at 2:00 pm | 79 Comments »
Wellbeing Measurements, Easterlin’s Paradox and New Growth Models: A Perspective through Gross National Happiness
Examines new growth models, especially Bhutan’s, which has pursued gross national happiness, rather than GDP, since the 1970s.
Topics: Free markets and their discontents, Guest Post, Macroeconomic policy, The dismal science
Posted by Lambert Strether at 9:55 am | 14 Comments »
Links 2/18/19
Topics: Guest Post, Links
Posted by Lambert Strether at 6:55 am | 218 Comments »
How Imperfect Knowledge Shapes Financial Markets
A discussion of various theories of how financial markets set prices.
Topics: Free markets and their discontents, Guest Post, Investment management, Market inefficiencies, The dismal science
Posted by Yves Smith at 5:27 am | 10 Comments »
Has America Always Embraced Capitalism?
History shows that capitalism isn’t natural or normal, strengthening the belief that we can create something better.
Topics: Free markets and their discontents, Guest Post, Social values
Posted by Yves Smith at 4:11 am | 58 Comments »
Even More on “Is CalPERS Private Equity Architect John Cole So Clueless He Doesn’t Know He’s Lying?”
It has taken three posts to unpack all the lies that John Cole told CalPERS’ board in December about its new private equity scheme.
Topics: CalPERS, Corporate governance, Private equity, Ridiculously obvious scams
Posted by Yves Smith at 9:19 am | 11 Comments »
Links 2/17/19
Topics: Guest Post, Links
Posted by Lambert Strether at 6:55 am | 224 Comments »
The Green New Deal’s Huge Flaw
Unsprawling America isn’t as hard as it sounds.
Topics: Guest Post
Posted by Lambert Strether at 5:55 am | 256 Comments »
Hubert Horan: Can Uber Ever Deliver? Part Seventeen: Uber’s 2018 Results Still Show Huge Losses and Slowing Growth as IPO Approaches
It is hard to see how Uber’s IPO story will hold up to scrutiny, particularly at a planned valuation of $120 billion.
Topics: Auto industry, Guest Post, Investment management, Ridiculously obvious scams, Technology and innovation, Uber
Posted by Yves Smith at 3:23 am | 50 Comments »
Can Shareholder Activism Tame the Financial System?
Is shareholder activism capable of achieving lasting change?
Topics: Free markets and their discontents, Guest Post, Investment management, Social values
Posted by Yves Smith at 3:00 am | 7 Comments »
2:00PM Water Cooler 2/15/2019
Today’s Water Cooler: China trade, Harris, Buttegeig, Sunrise Movement, industrial production, manufacturing, consumer sentiment, import and export prices, auto, Wall Street and infrastructure, nuclear power, medical bankruptcy, predictive policing, Amazon Ring, Opportunity Mars Rover
Topics: Guest Post, Water Cooler
Posted by Lambert Strether at 2:00 pm | 144 Comments »