Sounds like Oregon PERS got investment ideas from CalPERS.
Oregon lost 17B last year.
Fat, easy target of opportunity. Another great benefit of having clueless bureaucrats with no accountability running things/s.
I think the view is - it’s not immoral to steal from the Gov’t. Because the money is there, and its going to be lost, transferred, stolen or mismanaged away regardless, so it may as well be me who takes it.
Like punching someone in the dark - it’s a victimless crime. (sarc)