It is good to see former CalPERS CEO Federico R. Buenrostro finally pleading guilty, with “sources” telling Pensions & Investments that “his admissions could result in expanded criminal charges for his codefendant… Alfred Villalobos,” as well as possible “indictments against two former CalPERS board members, Kurato Shimada and Charles Valdes.” (Guilty plea opens new chapter in CalPERS story and Former CEO of CalPERS pleads guilty to fraud, corruption charge, LATimes).
However, to me it feels a little like the recent botched execution of Joseph Wood in Arizona. What bothers me more than the almost two hours it took for the lethal injection to kill Wood was the fact that it was twenty-five years after his crime. After twenty-five years, how much of the man they executed is the same as the man who committed the crimes? Similarly, are those indicted at CalPERS the same people anymore? One former board member certainly worth questioning was Robert Carlson… but, after 37 years on the board, he’s dead. Continue Reading →