Spot.Us has sponsored an 8-month in-depth investigation by journalist Peter Byrne into the investment patterns of the University of California regents. What Byrne found is an interweave of what appear to be alarming conflicts of interest in which “… some members of the regents’ investment committee, who are also Wall Street heavy-hitters, have modified long-standing investment policies in a way that benefited their own financial holdings.”
According to Byrne, while these members of the regents’ investment committee were benefiting, the UC’s portfolio shrank.
And remember, all this is taking place in a climate of drastic budgetary cutbacks, where tuition is being raised at our UCs, staff and faculty have been laid off or had their salaries reduced, and many classes and labs have been cut.
For those who are concerned about our UC system, the series is a must read:
Here is a link to the entire series.
Read the chapter overviews to give you an idea of the scope of what Byrne has found.
Then scroll down and begin with Part 1.
Photo by Mark Ralston AFP/Getty Images
This might be a good application of the modernized death-chambers in California.