In 2002, Warren Buffett warned that derivatives were financial weapons of mass destruction. When later they exploded, we wondered why authorities did not act earlier. In 2008, the same Buffett warned about public pension-cost surprises. When that happens and wipes out K-12 education, people will ask why authorities did not act earlier. After all, they were warned. Gov. Brown should use the new revenue to address the teacher pension shortfall. If not now, when?
Predicting the legal success of public pension plan changes is difficult at best. The uncertainty...
The economic case for not putting off marriage for too long.
Last week, the state of California claimed that its version of Obamacare’s health insurance...
CalSTRS in 2008 adopted 21 risk factors that discourage – but don't forbid – the fund from...