The California Public Employees’ Retirement System (CalPERS) issued the following statements in support of financial reform legislation announced by Senator Christopher Dodd, D-Connecticut and Chairman of the Senate Banking Committee.
Rob Feckner, CalPERS Board President: “This legislation is good for business, good for the nation’s economic recovery, and will go far in protecting investors and taxpayers. We are very pleased and look forward to working with Senator Dodd on the passage of this legislation.”
George Diehr, Chair of the CalPERS Investment Committee: “CalPERS investment portfolio was harmed by the economic fallout in the marketplace and lack of strong corporate governance and market regulation. Finally, we have a common sense approach that everyone can support. “
Anne Simpson, Senior Portfolio Manager who heads the CalPERS Corporate Governance Program: “Under this proposal, the wild frontier of capital markets would be put under regulatory control. We look forward to working with the Senate Banking Committee as it comes forward with a bill that the President can support and sign.”