WaPo has their version;
Calif. Pension Fund Shifts Away From Stocks, Bonds
By Michael Liedtkeand:
Sunday, December 23, 2007; Page F02
SAN FRANCISCO -- The California Public Employees' Retirement System will sell more than $20 billion in stocks and bonds as the largest U.S. public pension fund aims for higher returns from venture capital, commodities, real estate and several other investment options.
About 10 percent of Calpers's portfolio will consist of real estate investments, up from 8 percent. Hitting the target will require additional real estate investments of about $4 billion.
There actually may be a little method in this madness. If these guys at Calpers have anything better than 20/200 vision they can see the shitstorm that's comin' and making the fund less liquid and more entangled could keep the sharks from taking too big a bit of their pie. Truth told Calpers is about to get a whole freakin' lot of IOUs as every available loose dollar is poured into the Social Services rathole that is California socialism.