Uploaded by TheCorporationNation on Oct 8, 2011
A CAFR rant for the Occupy Wall Street crowd!
I’d like to introduce you to the $64 billion and $23 billion dollar “mutual funds” in California, called Commingled funds. These funds are in all states, with federal U.S. CODE creating them through the state treasurer, and are usually called the Public or State Treasurer’s Investment Fund.
Even as California claims to be broke, these funds are growing strong… making hundreds of millions or billions of dollars in investment returns.