Calif. teacher pension posts low investment return

Sacramento Bee / AP ^ | July 12, 2012 | Judy Lin

[Last of the Mohicans]

SACRAMENTO, Calif. -- California's teacher pension fund has earned a 1.8 percent return from investments this year, a rate that falls short of expectations and could add to the system's shortfall.

[nascarnation]

I don’t see it as a problem at all.

In a country where an unlimited amount of Baraqqi/Bernanke/Geithner minibucks can be created electronically, let those retired Cali teachers have all they want.

[Last of the Mohicans]

True up until a few years ago, but the passage of GASB 42 requires all future pension benefits to be fully capitalized or else the state has to make it up out of its general fund. That can be another huge shortfall for Moonbeam and his Democrat cronies to make up or hide.

[icwhatudo]

I have a feeling we will be seeing lots of this. Dems will seize on the libor rate scandal to say thats why dem cities are going bankrupt.

[Carry_Okie]

There is a reason for this, and it represents a GOP opportunity. The reason is that the big shots in the Slave Party use public employee pensions both as demand pull and as a dumping ground for stocks they are manipulating with regulatory and legislative largesse. Once a smart GOP pol figures out how to explain to public employees that they are being played for patsies, the wheels will start to wobble on a major part of the Slave Party machine.

A classic example is Catellus Development, once the old Southern Pacific real estate thug racket and more recently a long time plaything of ChiFi's husband Richard Blum. CalPERS is the biggest stockholder.

Conservatives would do well to snag the few remaining copies of Richard Trainor's book, "Paradise Lost?" He's a former Sacramento freelance reporter and honest liberal, who got his clock cleaned more than once chasing the corruption behind high speed rail in California.

[familyop]

The bond collapse will happen.