Audio of Regents Meeting of 3-17-11
At the Regents meeting of 3-17-11, the session started with open comments. (A student from a class co-taught by yours truly in winter quarter was a speaker.) There was then a presentation by the UC-Davis chancellor, Linda Katehi, about developments on that campus, including budget concerns. The Finance Committee approved options for borrowing for the pension fund from STIP and possible pension bonds. Oddly, but consistent with earlier presentations, the primary motivation is described as a kind of interest arbitrage. In fact, the original motivation for these options was the $2 for $1 issue; roughly each $1 of contributions by…