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Congress should take up and pass this legislation now. As California Globe reported , Mr. Banks said they notified Gov. Newsom, who denied this. In , he joined the California Public Employees Retirement Management System, the largest public retirement fund in North America, where he was primarily responsible for asset allocation.
Since , Meng Yu has been the asset allocation director of the California public employee retirement management system, managing more than billion US dollars of assets. Thank you for this report. Newsom, et al have sold their souls to the Chinese Communist Party via investment interests. Maybe the CCP can land Mr. Perhaps Senator Feinstein could form a search committee to find a replacement for Mr. Meng Yu? We can thank honest media and an honest politician for bringing this preposterous-but-true situation to our attention in the first place.
That is great news. It strikes me again that sometimes the horrible truth of what is going on in this state is so outrageous and bizarre that I think even the most cynical of us have trouble accepting that it is actually happening.
My eyes are wide open. This has to be exposed at every level. CCP must pay handsomely. I hope there is more to come. Thanks for bringIng us the important news Katy. Keep shining that light! It always comes down to money. Politicians keep getting rich while in office. Not looking so golden in California. The plan also has investment committee meetings reduced to quarterly, with one yearly retreat meeting. Currently, the system has nine monthly voting meetings for the investment committee. It also has two board retreat meetings, in which votes are not normally taken.
The restructuring plan began a year ago following a board member survey and individual meetings with board members on how the board and investment committee could function better, Jones said. He refused to elaborate further, saying he wanted to make his comments at the governance committee meeting, not in the press.
Dominguez, a corporate governance expert who is a faculty member at the National Association of Corporate Directors, said relative to corporations, typically a committee is a subset of the board. She said a third of the board members would be on a committee and those individuals would be assigned based on their expertise with a particular subject matter. She questioned at the July 17 meeting whether the investment committee was able to adequately review the separate items of information that have been given to them as committee members in the last two years.
Simpson suggested fewer meetings and fewer members, along with the use of informational technology tools, could better help investment committee members sort through investment material. Brown said restructuring would result in the remaining investment committee members not being able to do their job. In a separate matter, on Monday, Brown demanded that CalPERS make public the results of an internal investigation examining whether board members are leaking confidential closed-door session information to the press.
She also denied she is responsible for releasing the information. The board governance committee today is also expected to vote on a code of conduct for board members. One area of discussion is expected to be what penalties should be imposed on CalPERS board members who violate the code of ethics. Brown has called the code too vague and says it could be used to target her and other board members who speak out.
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