You know what I find outlandish about this story? That the pension funds of Calstrs and Calpers did over 35 billion dollars worth of currency trades!

No wonder our financial world is a mess. As long as huge pension funds are going to speculate on stuff like currency trades, the casino is gonna be open 24/7 and the people whose pensions these organizations are supposed to be safeguarding are gonna get screwed.

But maybe it’s just me. Maybe I’m just old fashioned and too financially conservative. But would you take your pension and go play in the forex markets? (I’m sure a couple of you piggs would, but I suspect most wouldn’t) If not, why should Calpers and Calstrs?