Know Your Regents, Utilization Two: The Illustration Of Richard Blum
Tuesday, February 10, 2026
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After Gerald Parsky ended his term equally the caput regent, Richard Blum took over this powerful position, in addition to this alter was of import for many reasons. First of all, Blum was a major investor in addition to possessor of existent estate, in addition to he had major stakes inwards companies that handled defense forcefulness projects in addition to infrastructure edifice for the U.S. of America Military. Blum is also married to Senator Diane Feinstein, who sat on the defense forcefulness appropriations committee, spell her married adult man was submitting bids for defense forcefulness contracts. According to Feinstein, she never knew which contracts belonged to her husband’s involvement because the contracts were listed without the names of the bidder. However, an investigative reporter, Peter Byrne, asked Blum’s lawyer virtually this potential conflict of interest, in addition to the lawyer responded that they gave Feinstein a listing of all of Blum’s bids, hence she would know to take herself when they were discussing her husband’s contracts. Congressional records exhibit that she never did take herself.
Since Blum, equally caput regent, was involved inwards the procedure of choosing the coin mangers in addition to investment strategies for the UC system, it seems highly probable that he was able to steer UC coin into his ain interests. In fact, nosotros know that Blum was a major stakeholder inwards the construction fellowship URS in addition to that inwards May 2001, UC announced that it would pay URS $150 1000000 to care the reconstruction of Santa Monica Hospital. In other words, merely equally his married adult woman approved her husband’s bids for defense forcefulness contracts, Blum himself got the regents to convey his ain company’s construction bids.
But the even out gets much worse; Byrne has reported that, “URS, which designs in addition to sells advanced weaponry, also held a $125 1000000 blueprint in addition to construction contract at UC's Los Alamos nuclear weapons lab. So URS had substantial interests inwards UC uppercase projects when Blum, its top dog owner, became a "decider" on construction planning in addition to awarding contracts.” Blum was in addition to then non solely married to a powerful senator who was the fellow member of the defense forcefulness appropriation committee, but equally a regent, he helped steer the academy into contracts alongside companies inwards which he held a major stake.
Perhaps the most destructive component division Blum has played equally a regent is his constant force to larn the UC to invest to a greater extent than inwards existent estate in addition to high-risk derivatives. Even equally the stock marketplace seat was falling in addition to existent estate was crashing, Blum is on tape telling the finance commission that they should increase investments into what nosotros directly telephone outcry upward toxic assets. The UC directly holds billions of dollars of assets in addition to investments that cannot hold upward priced, in addition to this loss of coin goes along alongside a loss of $23 billion inwards its investment in addition to pension funds (see the assets links below).
The illustration of Richard Blum should larn out no incertitude that the regents demand to hold upward democratized in addition to that nosotros should all get together together at UCLA on Nov 18-19 to larn by for a telephone substitution alter concerning how the regents are chosen in addition to how priorities are made inwards the UC system.
How to Find UC Assets:
For latest report, click info/COI_IAG_Perf_Summary_06-09.pdf">here, in addition to larn to Page 3:
UCRP is the pension fund
GEP is the collective endowment fund
STIP is the short-term investment fund
TRIP is a novel investment fund
High betoken for full assets (over $74.6 billion) is 9/30/07, click here.
Recent depression point: 3/30/09 ($51 billion, click info/COI_IAG_Perf_Summary_3-09.pdf">here.
New link to curt choice budget video, click here.
Since Blum, equally caput regent, was involved inwards the procedure of choosing the coin mangers in addition to investment strategies for the UC system, it seems highly probable that he was able to steer UC coin into his ain interests. In fact, nosotros know that Blum was a major stakeholder inwards the construction fellowship URS in addition to that inwards May 2001, UC announced that it would pay URS $150 1000000 to care the reconstruction of Santa Monica Hospital. In other words, merely equally his married adult woman approved her husband’s bids for defense forcefulness contracts, Blum himself got the regents to convey his ain company’s construction bids.
But the even out gets much worse; Byrne has reported that, “URS, which designs in addition to sells advanced weaponry, also held a $125 1000000 blueprint in addition to construction contract at UC's Los Alamos nuclear weapons lab. So URS had substantial interests inwards UC uppercase projects when Blum, its top dog owner, became a "decider" on construction planning in addition to awarding contracts.” Blum was in addition to then non solely married to a powerful senator who was the fellow member of the defense forcefulness appropriation committee, but equally a regent, he helped steer the academy into contracts alongside companies inwards which he held a major stake.
Perhaps the most destructive component division Blum has played equally a regent is his constant force to larn the UC to invest to a greater extent than inwards existent estate in addition to high-risk derivatives. Even equally the stock marketplace seat was falling in addition to existent estate was crashing, Blum is on tape telling the finance commission that they should increase investments into what nosotros directly telephone outcry upward toxic assets. The UC directly holds billions of dollars of assets in addition to investments that cannot hold upward priced, in addition to this loss of coin goes along alongside a loss of $23 billion inwards its investment in addition to pension funds (see the assets links below).
The illustration of Richard Blum should larn out no incertitude that the regents demand to hold upward democratized in addition to that nosotros should all get together together at UCLA on Nov 18-19 to larn by for a telephone substitution alter concerning how the regents are chosen in addition to how priorities are made inwards the UC system.
How to Find UC Assets:
For latest report, click info/COI_IAG_Perf_Summary_06-09.pdf">here, in addition to larn to Page 3:
UCRP is the pension fund
GEP is the collective endowment fund
STIP is the short-term investment fund
TRIP is a novel investment fund
High betoken for full assets (over $74.6 billion) is 9/30/07, click here.
Recent depression point: 3/30/09 ($51 billion, click info/COI_IAG_Perf_Summary_3-09.pdf">here.
New link to curt choice budget video, click here.