Some UC Regents “gaming the system,” says Peter Byrne
By Holly Kernan on Wednesday, Mar 31, 3:46pm
California’s elite public university system is governed by a powerful Board of Regents. These Regents and their appointed Treasurer control $53 to $63 billion in investments. Local investigative reporter Peter Byrne wanted to find out how those investment decisions are made, and whether the members of the Board of Regents may have conflicts of interests. Here’s what he found: “A number of regents are gaming this system to profit themselves while University of California sinks into the quicksand,” Byrne said. KALW’s Holly Kernan asked Peter Byrne to explain how the retirement and endowment funds are currently being invested.