We notice with some trepidation that Russell Read, the chief investment officer for CalPERS, has resigned after just two years on the job. CalPERS is the massive pension retirement system for state employees, and handles $244 billion in assets in order to guarantee that state workers have the decent retirement and health care they were promised when they signed up. According to the Los Angeles Times, Read has quit his $958,000-a-year job to dabble in environmentally friendly investments, but hasn’t come up with any specific project yet. Hmm. Doesn’t really pass the stank test, if you ask us.
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