This morning brought news that LandSource, a joint venture involving CalPERS, is filing bankruptcy.
The geniuses at CalPERS put almost a billion dollars into this California land deal right as it was becoming obvious to everyone else that the housing bubble was bursting.
This was just months before the brilliant Toxic Waste CDO deal they bought right before the summer mortgage meltdown.
Nice going, guys! What's your next trade?
UPDATE: Edited to remove the guy's name. I hope nobody harasses him or his employer. He was good-natured and his sign was innocuous a...
The experts agree We're going Full MMT So start buying gold Mauldin Economics on the prestigious Camp Kotok economic gathering: ...
Gavin Newsom's insane new executive order commands Californians to stay in their homes "until further notice" "except as...