Here’s our press release from earlier today…We won’t let John Chiang hide from his record.
Thousand Oaks, CA – Today, John Chiang finally decided, six days before the election, to address the issue of placement agents at CalPERS under his watch on the Board of Administration. Those same placement agents have mired CalPERS in a never-ending bribery scandal. While John Chiang sat on the board of CalPERS, millions of dollars were paid to placement agents who acted as middlemen while the pension fund was driven into the ground. John Chiang allowed these middlemen to reap all the benefit while working Californians suffered.
“John Chiang’s people are on full spin over this,” said Strickland spokesman Michael Levoff. “Controller Chiang was in the room while millions of dollars traded hands, but didn’t think anything of it until the Wall Street Journal blew the cover off of the placement agent issue. They want to talk about a bill to clean up the mess, but before it was public, Chiang never said a word.”