Marlene stared at her tablet. She could refuse; technically and on paper, CalPERS was an independent entity. But in reality, the relationship between CalPERS and the California state government was more complicated than that. At the end of the day, she knew, the AG and the Governor had the juice.
If she quit, they’d just get someone else, someone incompetent enough to think this was a good deal. She could raise a media stink, but what good would that do? Everybody loved the Governor these days.
In the end, she called Keenan Stull. Here she found someone she could actually talk to intelligently, even if he was nominally her enemy in this matter.
By the time she got off the phone, Keenan had her personally well positioned in the derivatives trades associated with the California bond issue
