So, you might ask. How were they able to hire those "geniuses" to begin with? ------State's top investment officials get giant pay raises

State's top investment officials get giant pay raises | Detroit Free Press | freep.com:
"LANSING — The State of Michigan quietly increased the salaries of its top investment officials in the Treasury Department by more than 80% this year, saying it was too difficult to attract and keep qualified people under the former pay rates.
Jon Braeutigam, the state’s chief investment officer, got a 90% pay raise to $333,000 a year from $175,000, department spokesman Terry Stanton confirmed Friday.
Treasury’s two senior directors of investment — Robert Brackenbury and Greg Parker — received 82% pay increases, boosting them from $128,000 to $233,000 a year."