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Indybay FeatureRelated Categories: San Francisco | Labor & Workers
Are Wells Fargo Banksters Running San Francisco Employees Retirement System?
Angry San Francisco City retirees, unionists and community activists who have been pushed out of their homes spoke to the San Francisco Employees Retirement System SFERS at their April 10, 2013 Board meeting.
Angry San Francisco City retirees, unionists and community activists who have been pushed out of their homes spoke to the San Francisco Employees Retirement System SFERS at their April 10, 2013 Board meeting. They demanded that the board support reforms of Wells Fargo and other banks involved in fraud and racist discrimination as well as demanding that banks separate the CEO from the chair of the board position.
The SFERS board members who are supposed to represent San Francico city employees and retirees had direct conflicts of interest. Chair of the board Wendy Wendy Paskin-Jordan who used to work for Wells Fargo Bank and now runs her own bank and Wells Fargo executive Brenda Wright were forced recuse themselves from the discussion and vote because of their direct conflict of interest.
The board members who are elected except member elected Herb Meiberger also opposed the reform proposals even though the state CalPers and the state teachers retirement system STIRS have passed similar reform measures.
SEIU 1021 and IFPTE Local 21 who represent the majority of SF city workers supported the Meiberger proposals
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