California Attorney General sues former pension officials for fraud

[centsgirl]

California Attorney General, Jerry Brown is suing two of the former officials of the nation's largest public pension fund for fraud, saying they set up a system of kickbacks to guarantee outside firms won a piece of the fund's lucrative investment portfolio.

The lawsuit against the former officials at Calperts, announced on Thursday, is the product of an investigation into the role of so called placement agents, the middlemen hired by money-management firms to help them win business with investor.

It is no wonder no one seems to get ahead, regular people just keep falling down, if this happened to a Attorney General, it could happen to just anyone.

[Rae74]

Oh yeah this type of stuff goes on all the time all over the world,people who have money tend to get greedy and do things like this to help themselves and other already wealthy people to get more money.

The sad part of it is that these people have had more money in a few years than a lot of us will have our entire lives almost.Still they want more and need more,this is another thing that comes hand in hand with having money.

I hate struggling all of the time to get by and doing without a lot so that my kids can have,but I would rather be like I am than to have money and become like every one else tends to be.