The recent Bloomberg View opinion piece "California's Bad Bet Makes JPMorgan's Look Minor" by David Crane, President of Govern For California, is a good history lesson of how California adopted the pension legislation that is causing so many problems now. A worthwhile read. Here's the link: http://www.bloomberg.com/news/2012-06-17/california-s-bad-bet-makes-jpmorgan-s-look-minor.html
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