Tag Archives: Debt

As Global Debt Soars, Where’s The Big Recovery?

Around the world, a surge in debt has fueled higher government spending. But that hasn't brought a lasting, sustained rebound in the economy. Adding $30 trillion in debt with no growth to show for it only demonstrates the bankruptcy of Keynesian tax-and-spend policies...

Fiscal Folly: A new study says governments around the world boosted their debts by more than 40% to over $100 trillion in response to the global financial crisis. Where's the promised recovery from all that spending?

From mid-2007 to last summer, the world added $30 trillion in government debt to its balance sheets, the Bank for International Settlements says. By comparison, that's twice the size of the $15 trillion U.S. economy.

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The Pension Fund That Ate California

CalPERS's corruption, insider dealing, and politicized investments have overwhelmed taxpayers with debt...

After spending years dogged by unpaid debts, California labor leader Charles Valdes filed for bankruptcy in the 1990s—twice. At the same time, he held one of the most influential positions in the American financial system: chair of the investment committee for the California Public Employees’ Retirement System, or CalPERS, the nation’s largest pension fund for government workers. Valdes left the board in 2010 and now faces scrutiny for accepting gifts from another former board member, Alfred Villalobos—who, the state alleges, spent tens of thousands of dollars trying to influence how the fund invested its assets. Questioned by investigators about his dealings with Villalobos, Valdes invoked the Fifth Amendment 126 times.

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