Jean Waggoner to STRS Board: What are you thinking??

From Jean Waggoner, October 22, 2008
Subject: Wow, are we upset with YOU!

Dear Board Members,

Is it true that you are considering giving bonuses to the investment folks who just lost $25 BILLION of our investment money??? What in the world are you thinking?? You've already given them over $6 Million this year....let's hold up a bit here and think this over. After you think it over please decide NOT to give them any bonuses. We are watching what you do very carefully. You play an extremely important role in our financial futures. Please act responsibly and do NOT give any bonuses when there are losses. We've lost too much already! Thank you.

Jean Waggoner