Ethically Challenged Funds Push Diversity! CalWatchDog
The nation’s two largest pension funds, the California Public Employees’ Retirement System (CalPERS) and the California State Teachers’ Retirement System (CalSTRS), have been plagued by problems and allegations of mismanagement and even corruption in the case of CalPERS, and yet these systems continue to lecture the private sector on ethical corporate governance.
The latest nonsense, released earlier this week, is a plan funded by the two systems to promote “diversity” in board rooms, by which they mean diverse ethnic and gender backgrounds rather than diverse viewpoints about the sanity of the current pension system.
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