The CalPERS' governing board during a meeting several years ago at the pension fund's headquarters. (Photo: CalPERS board)
Calpensions: After the board was told last April that CalPERS could not track the incentive payments, known as “carried interest,” a wave of media criticism grew with stories in the New York Times late last month and Fortune magazine last week. A pension fraud investigator, Edward Siedle of Benchmark Financial Services, launched an Internet fund-raising campaign on Kickstarter to raise $750,000 for a “forensic investigation” of the California Public Employees Retirement System.
State Capitol, Sacramento. Photo: Wikimedia
In the aftermath of the corruption scandals now affecting three State Senators, California voters have changed their views about the performance of the Legislature. During the week immediately prior to Yee’s arrest, 46% of voters approved and 40% disapproved of the Legislature’s performance, a finding that showed continuing improvement from previous Field Polls conducted over the past two years.