Legislators Urge CalPERS Board Member Resignation

SACRAMENTO–In a letter released Wednesday–24 members of the California State Assembly and State Senate asked for the resignation of Charles Valdes–the chair of the Investment Committee of the California Public Employee’s Retirement System.

The letter is in response to recent disparaging remarks against State Treasurer Phil Angelides based on his Greek ancestry and against the Greek community.

In June–Angelides spearheaded an effort to reject the hiring of a consultant who–in a report–had misrepresented the actions of the Ottoman Turkish government vis–vis the Greeks and Armenia’s at the beginning of the century and had passed over the Armenian Genocide issue.

CalPERS board decided to rescind that decision prompting Valdes to accuse Angelides of bias in tackling the issue due to his Greek ancestry.

"You assumed that since he [Angelides] was Greek-American his concerns were tied to his Greek ethnicity. With the diverse communities of California–we can never make such narrow minded assumptions," the letter to Valdes stated.

Legislators signing the letter included Assemblymembers Alquist–Calderon–Cedillo–Florez–Gallegos–Granlund–Hertzberg–Keeley–Lempert–Longville–Machado–Mazzoni–Migden–Nakano–Papan–Pescetti–Reyes–Shelley–Thomson–Wiggins and Wildman–as well as Senator Poochigian–Minority Leader Baugh and Assembly Speaker Antonio Villaraigosa.

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