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Bankruptcy — Good for San Diego
I do want to thank Mr. Bauder and the Reader for the forum. Where would San Diego be without both, together? Much less of a town with an open mind, I say. Regarding facts to support statements. I could state them, but that would cause needless trouble. The former city attorneys idea of an outside judge from an outside court could work, if the ca supreme court rules as surf has noted. Maybe. Don, your viewpoint on Michael is a strong beam of light on how independent and valuable your public opinions are to us readers. After watching the Bomb House Burndown it struck me. Our current national financial meltdown (in progress right now)is much like the Bomb House. Everyone with the responsibility, authority and power don't want to go near it. They know its really messed up and any part could blow their legs off. But, they also know the only way to fix it right, is to take it down. Completely. But, if they get their legs blown off just doing a half-a job, they wouldn't get those golden years they look for everyday day at work, rather than really working. But, in this new financial reality, these same authorities are unwilling or unable to burn it down to the ground and start over, to the foundation. Allowing mortgages to be converted to other financial mechanisms and their unsupervised manipulations has exposed the entire financial world and its underpinnings. Pensions, bonds, investments, taxation, all are exposed now and suspect. Every kind of financial transaction, a possible explosive tinderbox. Bonds from an insolvent government? Be serious! And the first thing the republicans want to do when they get the new power in congress is to get the tax breaks for the wealthiest and grill the new financial watchdog? When right now, all of the financial transactions and products are all too weak to go near, no trust, they could harm you if you go anywhere near them. And you don't know which can explode next! The current situation makes the city situation that much worse. The core city financial transaction, its relationship with its workers. Just another critical underpinning, weakened and ready to collapse. The authority knows how dangerous the real situation is and is unwilling to go near it. So, the money the workers of those union members, the money that wall street wanted to control during the Bush admin, after they made the investment houses into banks, when they said they could grow the dollars better then the workers themselves. The money the S&L's stole, the money the traders are taking on the oil barrel/gas price market right now (note the timing after the recent election)and the money they use from the fed (taxpayer dollars-converted to private banking dollars)to make more, mucho more money, isn't enough. ALL of those dollars aren't enough to satisfy the money changers. Don, is it time to burn it ALL down to the ground?— December 11, 2010 4:14 a.m.
Bankruptcy — Good for San Diego
Mr. Bauder, Interesting strategy. Only two flaws, the Republicans gutted the BK laws during their last reign in congress. The only benefits, from a clean bk court case filing by the city, will go to the debt holders, in this case, the unions. Debtors (the City) would not be able to shed the debt as the laws are currently structured. Now, during the last depression (the 30's) judges had the flexibility to rule justly. Not now. BK is a massive scam, not in favor of the debtors. Problem number two. The bk southern district court based in san diego, where the cases would be heard are corrupted. The fatal flaws are widely known in certain legal circles, like the san diego bk network, they have advised the unions of the flaws. The chief judge of this district has been paid off by big debt holders since his taking the bench. Look at the records, the blood of the debtors of this district, coat the walls of the downtown bk court. The federal trustee of this district (bk court) has been proven to protect fraudulent debt holders and routinely provides false testimony against the very same debtors (the City), if the council decides to go down this specious path. Not only is the bk path not a panacea as is it is falsely described in many recent 'think tank' opinions, in san diego, because of the corrupt chief judge and the fraudulent san diego federal bk trustee, the city would find itself needing to 'pay-off' the system just to get out of the circuit, once its case is filed. The unions have already been advised of their odds by several national profile attorneys. The unions would contest the chief judge and any other judge in the san diego circuit and they would have the justice department remove the current trustee. The only way out would be to reach a deal with the unions. And the city can do that with a phone call.— December 1, 2010 4:20 p.m.