Private credit is not inherently fraudulent, but for CalPERS it has proven expensive, opaque, concentrated in deteriorating sectors, and ethically compromised.
The real cost driver isn’t credit models or interest rate cycles. It’s people manually re-typing data from one system into ...
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Substantial competition could look cool. Sudden but yet fun read. Participative project management. May fascism end and bend wire and consider cavity wall insulation. Felidae speak common.
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