Reckless San Diego Politicians Put Taxpayers on the Hook via High Risk Bonds

[Mad Scientist]

Because of their discredited supply side theories no doubt.

You beginning to see a pattern here?

The original story was in the WSJ but you can't view the whole article there because they suck.

San Diego County Rolls the Dice on Its Pension Fund

The San Diego County pension fund is adopting a much riskier investment strategy to increase its financial performance. According to U-T San Diego reporter Dan McSwain, the fund’s performance ranked 84 out of 100 comparable funds in both 3- and 5-year periods ending Sept. 30, 2013 — poor results by almost any standard.
Under the new policy, the limit on leverage has been raised to almost 100%, and investments can be extended to “foreign junk bonds, emerging-market stocks, options on the future value of zinc … almost anything is fair game.”(3)

San Diego County has been heavily criticized for the high cost of this consultant, reported at $10 million per year, and because its overall investment management costs are among the highest in the industry.

But who cares when you're dealing with someone else's money right?