Posts Tagged: Wall Street
A view across the river of the CalSTRS headquarters in West Sacramento. (Photo: ImageAllan, via Shutterstock)
OPINION: Here’s the best advice: To the more than 3 million retirees, teachers, firefighters, nurses, police officers and other state and local government employees who rely on the state’s two largest pension funds: Do not be alarmed. To the critics who periodically predict – always following downward swings in the stock market – that the pension funds will someday not be able to meet their obligations: Do not be alarmist.
Couple enjoying a lake in Rancho Santa Margarita, Orange County.(Photo: VG Photo, via Shutterstock)
OPINION: As Americans confront the effects of a K-shaped recovery that is further enriching the wealthy even as low- and-middle income workers struggle to stay afloat, the chasm between Wall Street and Main Street has never seemed wider. Finding ways to bridge that chasm remains one of this nation’s greatest economic challenges.
Gabriel Petek, the new head of the Office of the Legislative Analyst, or LAO. (Photo: Courtesy of Gabriel Petek)
A Wall Street public finance expert who says analyzing California’s fiscal condition was the “defining passion” of his career is the state’s new legislative analyst. He is Gabriel Petek, 47, who until recently was Standard and Poor’s chief credit analyst covering California from an office in San Francisco.
Blocks and crayons in a California classroom.(Photo illustration: Blade Tucker
OPINION: Late last year, the Legislature passed a fiscally irresponsible law that prevents local school districts from maintaining prudent budget reserves necessary to prepare for future economic downturns, to invest in classroom improvements, and to protect our students. As ridiculous as that sounds, unfortunately that’s the reality. That’s why thousands of educators, including school board members, school district officials, community members, parents and others are calling for the Legislature to repeal the local school district reserve cap.