http://online.wsj.com/article/SB10001424052748704518104575546532549007978.html?mod=WSJ_newsreel_business
Conflict of interest pretty much says it all.
Being told to buy the crap that the banks had rigged to fail and bet against to do so.
Calpers said Monday it is "severing its ties" with a longtime private-equity adviser and money manager amid criticism of the giant public pension fund for poor returns and conflict-of-interest questions.
The California Public Employees' Retirement System said it was cutting ties with Pacific Corporate Group, or PCG, as part of its "ongoing strategic review" of its private-equity program and investment partners.
