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Who Needs Placement Agents, Anyway? No Place in the Public Pension Boardroom for Mercenaries
Governing Link to more items from this source
[Opinion]
Nov. 20, 2009

Excerpt: Until there are prohibitions on pension marketers making campaign contributions to board members and strict controls on contributions to anybody else involved in pension governance, the trustees can profit from their decisions to hire investment advisors. Requiring them to get a lobbying license almost makes it a laughable exercise unless there are explicit prohibitions embedded in the law. Otherwise the law would become a 'license to steal.' Board members who accept such payola should be disqualified for voting on any issue that involves a campaign contributor and on any investment or contract/vendor decision remotely related. The proposed CalPERS legislation should include a provision similar to that as well.

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