Gov. Brown - CalPERS is a Ponzt Scheme
Original post made by Arnold, Another Pleasanton neighborhood, on Dec 2, 2011
"Well, that tells you you've got a Ponzi scheme, because you have to keep bringing in new members and the current system itself is not in a sustainable position,'' Brown said. ``I don't accept that, and we don't want to close it off anyway.''"
LA TIMES: Web Link