AG Brown sues State Street bank to recoup $200 million in losses
It’s become an unfortunately familiar story: a large investment bank accused of massive fraud against a retirement fund. However in this case the two retirement funds in question, CalSTERS and CalPERS, happen to be California’s two largest pensions and the accused bank, State Street, is one of the world’s leading providers of financial services for institutional investors. Attorney General Jerry Brown is suing State Street for committing “unconscionable fraud” against CalSTERS & CalPERS, and hopefully recouping some $200 million in the process.
It’s become an unfortunately familiar story: a large investment bank accused of massive fraud against a retirement fund. However in this case the two retirement funds in question, CalSTERS and CalPERS, happen to be California’s two largest pensions and the accused bank, State Street, is one of the world’s leading providers of financial services for institutional investors. Attorney General Jerry Brown is suing State Street for committing “unconscionable fraud” against CalSTERS & CalPERS, and hopefully recouping some $200 million in the process.
Guest:
Marc Lifsher, L.A. Times reporter working on the Brown/State Street story
- Patt Morrison for October 20, 2009
- Water main roulette continues troubles for DWP
- While water flows in the streets of L.A., will there be a deal in Sacramento?
- AG Brown sues State Street bank to recoup $200 million in losses
- Energy Star—lame-duck imprimatur
- “Unsustainable”—U.S. debt on a collision course w/our way of life
- State of Seafood report isn’t as fishy as we feared
- Pandora’s music genome project
Also on this episode
Events
Comedy Congress Live
Wednesday, February 29, 2012
7:30 p.m.
- 9 p.m.
The comedic material emanating from Washington D.C., and state capitols across the country, is enough to make any sitcom writer jealous, even if most of that comedy is unintentional. Our motto on Comedy Congress is that just when politics makes you want to cry, it’s usually best to laugh.
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