I am going to post this here. While this cannot be blamed entirely on Newsom, with the one party rule in CA, we can blame it on that party of which he is the head of in the state. Do we want him as a President in the future.
CA state retirement fund lost 71% of $468M put in clean energy, won’t say how
(The Center Square) – The California Public Employees' Retirement System for state employees lost 71% of its $468 million investment in a clean energy and technology private equity fund, state records show, but CalPERS won’t explain how.
These losses are a major problem for California taxpayers, who at least for now are the backstop for underfunded state pensions, but also for state employees who trust CalPERS to responsibly manage their retirement plans.
https://www.msn.com/en-us/money/news/ca-state-retirement-fund-lost-71-of-468m-put-in-clean-energy-won-t-say-how/ar-AA1Plw5N?ocid=BingNewsSerp