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Old 02-08-2017, 09:45 AM
 
6,089 posts, read 4,987,805 times
Reputation: 5985

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Quote:
Originally Posted by expatCA View Post
Who got the money via the investment? A developer friend of the Politicians or Union? It isn't always bad decisions, it is .... good for someone.

The old adage: Follow the money.
I will tell you this, a lot of people got fat pockets from the Newhall Ranch deal, and nothing was ever put in the dirt. The investment advisers (who live in... you guessed it, San Francisco) got their cut, padded their bottom line, and were never heard from again.
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Old 02-08-2017, 12:00 PM
 
18,172 posts, read 16,398,084 times
Reputation: 9328
Quote:
Originally Posted by CaliRestoration View Post
I will tell you this, a lot of people got fat pockets from the Newhall Ranch deal, and nothing was ever put in the dirt. The investment advisers (who live in... you guessed it, San Francisco) got their cut, padded their bottom line, and were never heard from again.
Aahhhh liberal CA. Gotta love it.
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Old 02-08-2017, 12:54 PM
 
Location: Los Angeles (Native)
25,303 posts, read 21,458,447 times
Reputation: 12318
Quote:
Originally Posted by CaliRestoration View Post
I will tell you this, a lot of people got fat pockets from the Newhall Ranch deal, and nothing was ever put in the dirt. The investment advisers (who live in... you guessed it, San Francisco) got their cut, padded their bottom line, and were never heard from again.
Legal robbery
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Old 02-08-2017, 01:25 PM
 
64 posts, read 50,845 times
Reputation: 50
Quote:
Originally Posted by jm1982 View Post
Legal robbery
What's that, charging for a service? How dare a company do that.

If calpers is so dumb to be taken advantage of, sounds like a great business opportunity to be an advisory firm and make millions in fees.
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Old 02-08-2017, 01:31 PM
 
17,401 posts, read 11,975,567 times
Reputation: 16155
Quote:
Originally Posted by CaliRestoration View Post
Best advice yet. Privatizing CalPERs would increase its returns, and reduce reliance on state contributions to keep it solvent.

This fund has not met its expected projections over a 20 year aggregate. It's failed completely.
It doesn't need to. If they earn big, then they get a big payout. If they lose big, then the state bails them out by law.
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Old 02-08-2017, 02:21 PM
 
6,089 posts, read 4,987,805 times
Reputation: 5985
Quote:
Originally Posted by jm1982 View Post
Legal robbery
California democrat politicians do not care about taxpayer money or accountability. It's literally pixie dust to them. An inexhaustible resource that they can do with as they please.
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Old 02-08-2017, 02:24 PM
 
6,089 posts, read 4,987,805 times
Reputation: 5985
Quote:
Originally Posted by ringwise View Post
It doesn't need to. If they earn big, then they get a big payout. If they lose big, then the state bails them out by law.
Yes, that's why it sucks.
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Old 02-08-2017, 02:43 PM
 
64 posts, read 50,845 times
Reputation: 50
Quote:
Originally Posted by ringwise View Post
It doesn't need to. If they earn big, then they get a big payout. If they lose big, then the state bails them out by law.
And that is the huge problem. If the pension were completed separate from state revenue and was solely funded by employee contributions and investment returns we wouldn't be in this mess.

The way it's structured now it actually ENCOURAGES risky investments because their downside is protected by the state budget.
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Old 02-09-2017, 01:16 PM
 
Location: Marin County, CA
787 posts, read 644,423 times
Reputation: 869
Quote:
Originally Posted by CaliRestoration View Post
I will tell you this, a lot of people got fat pockets from the Newhall Ranch deal, and nothing was ever put in the dirt. The investment advisers (who live in... you guessed it, San Francisco) got their cut, padded their bottom line, and were never heard from again.
Quote:
Originally Posted by jm1982 View Post
Legal robbery
And we can't do anthing about this then? What happened to accountability?
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Old 02-09-2017, 01:46 PM
 
18,172 posts, read 16,398,084 times
Reputation: 9328
Quote:
Originally Posted by TheGoodUsernamesWereTaken View Post
And we can't do anthing about this then? What happened to accountability?
Accountable to who?
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