Selective coverage and the free ride

I try to avoid politics, but...

In my California newspaper, at least, regularly drubbed for being a psycho left-wing socialist rag even though it's owned by Hearst and its only full-time op-ed writer is a diehard Republican, there's been an interesting omission in all the coverage of one of the Governator's "reform plans"--the one he's at least postponed.

That is, "reforming" California's public employee retirement system, CALPERS, so that it goes away and gets replaced by a 401(k) equivalent.

The claim is that this would save money and presumably reduce the number of chateaus and yachts purchased by those retired schoolteachers and firepeople.

What's never mentioned, as far as I've seen, is that CALPERS is (as the second-largest pension fund in the country) a growing force in fighting for corporate reform: It owns enough shares in enough companies to be heard on calls for more independent boards and maybe less "you approve my multimillion$ bonus for putting the company in bankruptcy and firing half the workers, and I'll approve yours" compensation packages.

It's been firmly established that, to Arnold, "special interest" means "anyone who isn't one of my fat-cat contributors," and big business is *never* a special interest.

Am I saying that Arnold might please his "everyday folk" supporters by putting CALPERS out of business? Well, yes, I am. Maybe I'm wrong, but you'd think the press would at least be raising the issue...

That's my political post for this month. I hope.

Comments

Hey waitaminute!!

you mean the governator might actually be...a republican??!!? I thought he was the greatest force for moderate politics EVER! ;)

AS a former employee of a county government out there, and someone who has a few hundred dollars in CALPERS, let me say that he will rob us blind given the chance. The dude's a liar from the getgo. He "fixed" the budget crisis by borrowing billions, something anyone could have done.

Now I see his approval ratings have plumetted. Don't hear anyone demanding we allow foreign nationals to run for president anymore!

Syndicate content