NEW YORK, NY -- (Marketwire) -- 10/15/09 -- The massive public pension system scandal -- reflected in today's news that Calpers, California's powerful public employee pension fund, was victimized by its own board member in a clever pay-to-play scheme -- is a story national in scope and years in the making.In Institutional Investor magazine's 8,000-word October cover story, "Shadow Lands," Staff Writer Imogen Rose-Smith and Contributing Writer Ed Leefeldt reveal the dark underbelly of the $2.2 trillion U.S. public pension industry. It is a world of shadowy backroom deals where the heady blend of political patronage and extreme wealth
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