[randita]

Good analysis, as usual. CalPERS has taken a steep decline in value over the past year or so due to the stock market decline. Do you know what the value of CalPERS is at present?

It might be useful to forward your info and analysis to Dan Walters at the SacBee. He's written some good columns explosing the corruption and mismanagement of the Davis Administration.

I'm surprised Davis has only borrowed a billion or two from the state worker's and teacher's funds. Perhaps he didn't want it to be noticed. Or perhaps he got permission and sanction from the CalPERS board to do this. I wonder, because didn't he insult them by asking them for campaign donations before he granted them a favor they were asking of him? Maybe borrowing from the pension fund was part of the quid pro quo.

[snopercod]

I don't know much about how CalPERS has performed. I did find this, though:

As of April 30, 2002, approximately 16.0 percent of CalPERS total assets are invested in California. The following breakdown illustrates CalPERS investments in California:

• Equities: $9.2 Billion
• Fixed Income: $4.6 Billion
• Real Estate: $10.1 Billion
• Total California Investments & Commitments: $23.9 Billion

Interesting that as fiduciaries, they would use the word "committments".

It would probably be better for somebody who actually lives in CA to contact Waters. I'm skeptical about those presstitutes, anyway.