Doesn't the CalPERS board have better things to do than attack one of its own members? : From time to time, the CalPERS board seems determined to have us think of it as a group of kindergarteners playing in grown-up clothes. In the past, we’ve documented an overheated internal attack on then-trustee J.J. Jelincic, whose chief offense appeared to be challenging the complacency of other trustees about what they were being told about the giant pension fund’s investment strategies.