Disclaimer: These are my notes from the conference of mostly California pension funds. I’m not a very quick note taker, so I have a tendency to fill in the “gaps” with relevant material from the Internet and with my own interpretation of what where I think the speaker was going. These notes are basically a small part of a more than 15 year diary mostly written for my own future reference. Of course, I try to be accurate but this is a blog. I don’t have the fact checkers and other resources of publications like the New
Carolyn Widener
York Times. On the other hand, I’d like to think that I sometimes bring additional insights to bear on the subject… sometimes more than the average reporter… although that may be delusional on my part.
The subject of the 1st day of the LA Pension Fund Trustees Roundup 2011 conference was, Pension Fund Strategies for Securing Fund Assets. After introduction and welcoming remarks from Carolyn Widener of the LA Trustees Network, we heard from Mike Musaraca of Blue Wolf Capital.
Why We Need to Organize to Secure Fund Assets: Mike Musaraca
Musaraca reminded us of the shocking income gap between rich and poor in America, with the hollowing out of the middle class. Retirement trustees are often at the center of the debate trying to ensure retirement security and a decent standard of living for beneficiaries. A crucial component is how well trustees grow and protect our funds.
Mike Musaraca
As a result of lack of regulation and failure to enforce what regulations we did have under Bush and Greenspan, as well as preverse compensation incentives, we are now drowning in a sea of toxic assets. But 2008 was not the first crisis in recent times but was part of a pattern. Huge pools of capital have an enormous impact on capital markets and the economy. We need to ensure against future market failures.
The current drive to eliminate collective bargaining… Continue Reading →
