Saturday, May 2, 2009

Is New CALPERS Head A Shady Political Insider? (LA Daily Blog Reader Weighs-In)



Check this out: Louis (Lou) Moret, "The newest overseer of America's largest pension fund, the California Public Employees' Retirement System (CALPERS), is a political insider."

Is this a system being used to launder money through nonprofit organizations?

From LA Times FULL article:
Louis F. Moret, appointed to the 13-person CalPERS board earlier this year, has served as chief operating officer of Southern California's regional planning agency, a Los Angeles public works commissioner, chief of staff for a former assemblyman and, perhaps most famously, as a boxing referee.
Less well known are his troubles in South Gate.
The city is suing him for allegedly conspiring to fix a $48-million garbage contract. And he was described by federal prosecutors as the "political mentor" of the city's disgraced political boss, Albert Robles.
At Robles' 2005 criminal trial, testimony by Moret and others showed how he helped Robles award political favors. Robles was convicted of running a "pay-to-play scheme" that involved selling city contracts for kickbacks. He is in prison.
Moret was named to the CalPERS board in February by then-Assembly Speaker Fabian Nuñez and confirmed by the state Senate Rules Committee. The board oversees the fund's investments and decides who is hired to manage them.
Moret, 63, is a member of an Eastside political clique led by boyhood friend Richard Alatorre. Alatorre hired him as his chief of staff when he served in the Assembly years ago. He also served as campaign chairman in Alatorre's first L.A. City Council bid.

(MAN, am I hungry! Wish I had some shady money to eat.)

SATURDAY NIGHT (LIVE) UPDATE:For those interested in CalPERS corruption, to go along with your LACERS corruption, an LA Daily Blog reader is telling the story, from the beginning, starting with THIS:
CalPERS (Part 1):

Group (Credit Suisse), Hamilton Lane, and Portfolio Advisors for the Private Equity Advisor core mandate

******Commissioner Moret moved that the Board interview Aldus Equity (Aldus)

******State retirement system looking at Aldus investments-----

**********Louis Moret, Commissioner, Los Angeles Fire and Police Pension System (Confirmed) .... Marcellus Taylor, Managing Partner, Aldus Equity Partners (Confirmed):

Follow by Email