SB400 was passed under promise that it wouldn't need tax payer support. So a promise is being broken either way. We wouldn't be in the issue if Calpers wasn'

SB400 was passed under promise that it wouldn't need tax payer support. So a promise is being broken either way. We wouldn't be in the issue if Calpers wasn't terrible at investing. They did really stupid things like invest in the most risky tranche of CDOs during the subprime crisis. Thats not the fault of tax payers.