California’s “newly elected Superintendent of Public Instruction, Tom Torlakson, declared a state of ‘financial emergency’ for California’s schools earlier this month and asked state residents to come to the aid of the state’s public education system. “ Mr. Torlakson moaned
Last week I calculated that CalPERS would increase its pension charges to cities, counties, and the state of California over 30% to regain massive investment losses over the last decade. My initial estimate was drawn from a presentation by Kung-pei
CalPERS financial sleight of hand is reminiscent of Bernie Madoff’s lying to his investors through phony statements designed to mask losses and outright fraud. Much has been written about The California Public Employees’ Retirement System (CalPERS) being underfunded by $500