Banana republic

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America’s Dire Inequality Demands a New Conceptual Framework. This Economist Has One.

Lance Taylor explains that wage repression — far more than monopoly power, offshoring or technological change — is driving rising inequality.

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

Published by Anonymous (not verified) on Fri, 11/09/2020 - 11:05am in

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

CalPERS’ Bad Numbers: CEO Marcie Frost’s Multi-Hundred Thousand /Year Advisor Randle Communications Missing from Board Reports

Published by Anonymous (not verified) on Fri, 11/09/2020 - 11:00am in

A remarkable series of accidents led to the CalPERS board not being told how much CEO Marcie Frost's advisor Randle Communications costs.

Brexit: Pear Shaped

Published by Anonymous (not verified) on Wed, 09/09/2020 - 8:05pm in

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”

Published by Anonymous (not verified) on Tue, 08/09/2020 - 11:48am in

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

Published by Anonymous (not verified) on Tue, 08/09/2020 - 11:47am in

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

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

Published by Anonymous (not verified) on Mon, 07/09/2020 - 11:51am in

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

State Controller Betty Yee Calls for Public Discussion of CalPERS Governance Reforms Following Sudden Departure of CIO Ben Meng

Published by Anonymous (not verified) on Sat, 05/09/2020 - 2:15am in

Controller Betty Yee forcefully slapped down CalPERS' CEO Frost's claim that Yee was satisfied with the burial of Yee's governance issues.

US Tax Dollars Funded Every New Drug in the Last Decade

Amid debates over costs—and profits—from a coronavirus vaccine, a new study shows that taxpayers footed the bill for every new drug approved from 2010 to 2019

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