John Curry to the STRS Board: Is the loss of a half a Billion dollars insignificant?

From John Curry

To STRS Board Members

March 25, 2021

Subject: Is the loss of a half a Billion dollars insignificant?

Attention STRS Board Members: 

As of yet, none of you have told us when you first knew about the Panda bankruptcy and the resultant loss of more than a half a Billion dollars. 

Silence is complicity....the more you say nothing the more we actives and retirees feel you did not communicate with us on a monumental loss that happened way back on August 17, 2017...a period of almost 4 years now! 

Regardless of whether you, as a Board, were involved in litigation or not involved in litigation regarding this bankruptcy, you still kept this FACT from us. 

STRS likes to say that they value transparency....do you? For now....all we stakeholders hear are crickets. 

When did you find out about this terrible loss of our moneys? Why won't you tell us? Were you told not to tell us? IF you just found out about this tragic event last week, as some are saying, then the administration intentionally withheld this information from you, didn't they? You should have been informed long before the bonuses were approved; were you? 

Your newly appointed CIO knew about this 4 years ago...why didn't he tell you? Or, is the loss of a half a Billion dollars insignificant? 

John Curry