Controversy
Before Parsky took over the University of California's pension fund it had averaged over 15% return per year and had hundreds of millions in profit after paying for pensions. Within 7 years the fund was broke. In the process he destroyed the reputation of Patricia Smalls who had operated the fund and she was forced to sign an agreement to retire early and not speak about the regents.
Read more about this topic: Gerry Parsky
Famous quotes containing the word controversy:
“Ours was a highly activist administration, with a lot of controversy involved ... but I’m not sure that it would be inconsistent with my own political nature to do it differently if I had it to do all over again.”
—Jimmy Carter (James Earl Carter, Jr.)
“And therefore, as when there is a controversy in an account, the parties must by their own accord, set up for right Reason, the Reason of some Arbitrator, or Judge, to whose sentence, they will both stand, or their controversy must either come to blows, or be undecided, for want of a right Reason constituted by Nature; so is it also in all debates of what kind soever.”
—Thomas Hobbes (1579–1688)