{"id":191564,"date":"2009-07-25T14:39:00","date_gmt":"2009-07-25T19:39:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2009\/07\/25\/doubling-down-on-failure-2\/"},"modified":"2009-07-25T14:39:00","modified_gmt":"2009-07-25T19:39:00","slug":"doubling-down-on-failure-2","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2009\/07\/25\/doubling-down-on-failure-2\/","title":{"rendered":"Doubling Down on Failure"},"content":{"rendered":"<p>The California state pension fund, CALPERS, has decided that since it lost so much money on risky investments last year, it&#8217;s going to <a href=\"http:\/\/www.nytimes.com\/2009\/07\/24\/business\/24calpers.html?partner=rss&amp;emc=rss&amp;pagewanted=all\">invest in even <span style=\"font-weight:bold;\">riskier<\/span> investments this year in an attempt to catch up<\/a>.<\/p>\n<p>When you do this at a casino, it&#8217;s called &#8220;Paying the Casino Boss&#8217;s Daughter&#8217;s Tuition.&#8221;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The California state pension fund, CALPERS, has decided that since it lost so much money on risky investments last year, it&#8217;s going to invest in even riskier investments this year in an attempt to catch up. When you do this at a casino, it&#8217;s called &#8220;Paying the Casino Boss&#8217;s Daughter&#8217;s Tuition.&#8221;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1004,1009,982],"tags":[],"class_list":["post-191564","post","type-post","status-publish","format-standard","hentry","category-finance","category-government","category-stupid"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/191564"}],"collection":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/comments?post=191564"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/191564\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=191564"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=191564"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=191564"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}