America's Broken Retirement Plans and Pension System: Another "Gift" From Wall Street
Description: William Lerach discussed his perspectives on the relationship between the deregulation of our financial markets and several wealth destruction events that resulted in massive losses to the nation's public, private and individual pension systems and plans. These losses have gravely impaired the finances of these retirement plans -- leaving many of them, he argued, with unfunded obligations that are so pervasive that they now constitute a major threat to the financial future of our country. Mr. Lerach also discussed what, if anything, he believes can be done to avoid or ameliorate the crisis that would arise from the financial collapse of our pension systems.
Sponsor: Berkeley Center for Law, Business and the Economy