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Post by jeffolie on Apr 20, 2009 9:33:56 GMT -6
Bonuses for pension failures. This stinks. I know the banks are lying, greedy and corrupt. The government pensions are also lying, greedy and corrupt. No one will pay huge bonuses to the American investors who have lost money in the stock market. ========================================================== CalPERS, CalSTRS award big bonuses despite losses California's two biggest public employee pension funds handed out millions of dollars in bonuses last year to their top executives and investment managers, despite losing billions of dollars. The biggest bonus check, $322,953, went to Christopher Ailman, chief investment officer of the California State Teachers' Retirement System. It nearly doubled his base pay of $330,000 for fiscal 2007-08. Since closing their books last year, both funds have lost dramatically more money with the stock markets' meltdown. CalPERS' holdings have fallen from $239 billion to $175 billion, a loss of more than 25 percent. CalSTRS' assets have dropped nearly 30 percent, from $162 billion to about $114 billion. www.sacbee.com/capitolandcalifornia/story/1791260.html
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Post by unlawflcombatnt on Apr 20, 2009 21:26:31 GMT -6
CalPERS' holdings have fallen from $239 billion to $175 billion, a loss of more than 25 percent. CalSTRS' assets have dropped...from $162 billion to about $114 billion. If true, these are astounding numbers. The total combined loss of the 2 funds is -$112 billion. And this -$112 billion-worth of taxpayers' money lost. Compare this to the California State budget of $140-150 billion. The -$112 loss is the equivalent to a loss of almost -1% of our entire national GDP.
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