PERS IAP Accounts – Too Much Politics? Disclosure Lessons from Oregon Secretary of State Dennis Richardson

See prior September 18. 2017 blog post  for important background regarding PERS adoption of age weighted IAP accounts. Once again, it appears that younger workers are being short changed by PERS in the adoption of age weighted IAP accounts.  Remarkably, there was no opportunity for public discussion on vendor selection or strategy regarding how the … Continue reading PERS IAP Accounts – Too Much Politics? Disclosure Lessons from Oregon Secretary of State Dennis Richardson

Oregon PERS Set to Award $8 billion Contract, Largest Contract in State’s History With no Media Coverage

In 2004 the State of Oregon decided to isolate the "employee contribution" part of PERS and put these amounts into what are called IAP (Individual Account Program) accounts. These 200,000 IAP accounts are essentially a defined contribution program, not unlike a 401K, for which members earn returns based upon market results with no guaranteed rate of … Continue reading Oregon PERS Set to Award $8 billion Contract, Largest Contract in State’s History With no Media Coverage

Is Patient Health Being Mortgaged via Derivatives as Homes Were During the Financial Crisis?

    Senator McConnell's Dilemma:   To Serve Patients or Investors? When evaluating health care investments it is important to analyze the structure of leading drug and medical equipment companies.  A close look indeed reveals a derivative driven system in which private equity and hedge funds increase demand for drug payments by purchasing the rights … Continue reading Is Patient Health Being Mortgaged via Derivatives as Homes Were During the Financial Crisis?

Obama’s Neglect of Volcker Emperils Economy – Summers and Geitner Stonewall Reforms

President Obama's best chance for turning around the economy is to make sure that Paul Volcker, Federal Reserve Chairman prior to Greenspan, is in charge of needed economic reforms.   Although Tim Geitner showed promise when nominated Treasury Secretary, he looked more like Michael (Katrina) Brown than a competent leader in his first press conference.   He … Continue reading Obama’s Neglect of Volcker Emperils Economy – Summers and Geitner Stonewall Reforms

Karl Rove and General Wesley Clark Debate at TD Ameritrade Institutional Advisor Conferenc

This week TD Ameritrade held its annual institutional advisor conference at Cesar's Palace in Las Vegas.  CEO Fred Tomczyk, pictured on left below, summarized TD's strong financial position in addition to his belief that money market accounts should be about safety and stability. For this reason, TD has chosen to minimize both duration and credit … Continue reading Karl Rove and General Wesley Clark Debate at TD Ameritrade Institutional Advisor Conferenc

Public Pensions Fuel Short Selling by Lending Their Security Portfolios to Hedge Funds

On January 31st I posted a brief video on youtube summarizing a program in which the Oregon Investment Council is lending its securities portfolios, using State Street as an intermediary, to hedge funds and private equity firms so that they may meet the ownership standards required to conduct short selling-- betting on the declines of … Continue reading Public Pensions Fuel Short Selling by Lending Their Security Portfolios to Hedge Funds

Oppenheimer College Savings Plan Infected by Madoff Scandal – Obama’s State Illinois and Oregon both Impacted

On Sunday December 21, 2008  Oregonian columnist Steve Duin wrote a column  titled  "A fool and his trust are soon parted."  Clearly, Oregon State Treasurer Randall Edwards, in his management of the plan, has breached his responsibility to Oregon's parents savings for college, saddling those making conservative bond choices with losses of almost 40 percent.   … Continue reading Oppenheimer College Savings Plan Infected by Madoff Scandal – Obama’s State Illinois and Oregon both Impacted

Immediate 6 Step Program to Turn Around Economy Proposed

On November 18, 2008 I gave a presentation to the local chapter of the American Association of Individual Investors (AAII) at the Multnomah Athletic Club here in Portland, Oregon regarding the overall state of the financial markets.  The talk focused on how we arrived where we are and what to look for going forward.  Also … Continue reading Immediate 6 Step Program to Turn Around Economy Proposed