[Uncle Chip]

CalPERS is the Swiss Bank of the public employee unions, the judges, the politicians, the administrators, et al. They would sooner see every city in California collapse than allow CalPERS to take a hit.

[stephenjohnbanker]

” CalPERS is the Swiss Bank of the public employee unions, the judges, the politicians, the administrators, et al. They would sooner see every city in California collapse than allow CalPERS to take a hit.”

Exactly!