“The topic came up in a response … to a question … regarding what investment policy changes the staff could request so staff members could act more quickly in the event of a market drawdown. ‘So, for example one of the undesirable outcomes during a drawdown is we don't have money to deploy to take advantage of a market dislocation,’ Mr. Meng said. ‘And one of the ways to generate additional liquidity is put on leverage on the total fund. So, we borrow money.’ …”