Risky, Ill-Timed Land Deals Hit Calpers - WSJ.com
Risky, Ill-Timed Land Deals Hit Calpers - WSJ.com:Jesus. H. Christ.
"Calpers in recent weeks said it expects to report paper losses of 103% on its housing investments in the fiscal year ended June 30. That's because Calpers invested not only its own money, but billions of dollars of borrowed money that must be repaid even if the investment fails. In some deals, as much as 80% of the money invested by Calpers was borrowed."
What I could do with the money these guys manufacture and then loose.
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