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Posts Tagged ‘parents westlund’

On Sunday December 21, 2008  Oregonian columnist Steve Duin wrote a column  titled  “A fool and his trust are soon parted.”  Clearly, Oregon State Treasurer Randall Edwards, in his management of the plan, has breached his responsibility to Oregon’s parents savings for college, saddling those making conservative bond choices with losses of almost 40 percent.   President elect Obama’s home state, Illinois, also uses Oppenheimer.

In 15 years as an investment manager, perhaps the most disappointing experience for me was when Edwards, pictured below far left, and Richard Solomon, far right, who later went from the College Savings board to chair Oregon’s $70 billion PERS fund, chose Oppenheimer to be the key vendor to Oregon’s College Savings plan over Vanguard.

edwardsmadoff

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