California taxpayers should ask themselves, in the words of Clint Eastwood's famous movie character, "Do I feel lucky?" We're not staring down the barrel of "Dirty Harry" Callahan's gun wondering whether there's a bullet in the chamber. Instead, we're gambling our financial future on whether public pension fund investments will surpass reasonable expectations. If state Treasurer Bill Lockyer, union leaders and the state's largest government employee retirement funds have their way, they'll continue betting against the odds. It's not surprising. It's not their money at risk. They won't have to cover the losses. Taxpayers will. Last week, a study led...