The Golden State's not-so-golden goose - BusinessWeek.com- msnbc.com: "In March 2000, California state Treasurer Philip Angelides announced a bold new initiative. Angelides felt the Golden State could do good for both the citizens of the world and its retirees by taking state pension fund money out of two asset classes that were performing horribly at the time, tobacco stocks and emerging markets, and reinvesting in something with a social benefit — businesses and real estate in low-income neighborhoods in his home state."
----------------
Smooth move. And what is the price tag on that virtuous decision?
No comments:
Post a Comment