Scam Diego Entries for March, 2008

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Does Your Broker Claim the Real Estate Devastation Is Almost Over? Statistics Say It May Be Half Over

The real estate downturn is nowhere near over, say savvy economists and followers of the industry. And San Diego's plight ...

Ten Trillion Reasons Why Federal Reserve May Have Bailed Out Bear Stearns

Here's a bombshell from the March 22 edition of The Economist magazine: "With positions in credit-default and interest rate swaps ...

David Perez Loved His Katrina Publicity, but Has Quietly Left Company in Tatters

In September of 2005, San Diegan David Perez got glowing national publicity for rounding up airplanes to fly victims of ...

Jenny Craig Sent Out Tainted Meat from Chino Slaughterhouse, but Notification Inadequate

San Diego-based weight loss specialty firm Jenny Craig sent its customers Salisbury steak and meatloaf meals made with beef from ...

Fed Completely Ignored Moral Hazard in Bailing Out Bear Stearns. Were the Fed's Moves Legal?

Over the weekend, the Federal Reserve committed $30 billion to facilitate the takeover of ailing Wall Street firm Bear Stearns ...

Stunner: JP Morgan Buys Bear Stearns for $2 a Share. Earlier in Last Year, It Sold for $159. Federal Reserve To Subsidize Purchase

Wall Street's JP Morgan agreed to buy ailing brokerage Bear Stearns for $2 a share Sunday. That comes to $236.2 ...

Fear That Bear Stearns May Not Be Able To Honor Credit Default Swaps May Be Reason for Federal Reserve Bailout

On Friday (March 14), the Federal Reserve arranged a bailout of Wall Street's Bear Stearns. Immediately, I suspected that other ...

Peters Hustles to Hustings; Long-Delayed 2005 Audit Delayed Again

The City's 2005 certified financial audit has been delayed for a long time. The mayor's office says it's an urgent ...

Why Financial Reform of Near-Bankrupt City May Be Impossible: Aguirre Jeered Yesterday by Business, Labor Moochers

The City of San Diego is bleeding financially because of corporate welfare mendicants who suck money out of the coffers, ...

Typically, U-T Editorial Touts Sanders; But Account Differs Sharply from U-T News Story. Paper Refuses Comment

On March 9, the Union-Tribune wrote an editorial that, as usual, lauded Mayor Jerry Sanders. "Reform at last," gushed the ...

Dalliances with Hookers Can Get You the Hook from Top Private Sector Job, Too

New York Governor Eliot Spitzer is expected to resign as a result of his involvement with a prostitute who charged ...

Hundreds Trying To Get Money Back from Real Estate Operation

Hundreds of investors are trying to get their money back from Corporate Funding Financial of America, formerly of B Street ...

Blackwater Drops Bid for Training Facility in Potrero

Chalk up a victory for the tiny town of Potrero in East County. Blackwater Worldwide, the controversial mercenary firm, wrote ...

Former Insurance Commissioner, Now a Cop, Under Investigation Again

Chuck Quackenbush, former California insurance commissioner who resigned under fire in 2000, is back in trouble again. As the Reader ...

Aguirre To Announce Wednesday That He Will Run for Second Term

At noon at the Cabrillo Monument on Wednesday, March 5, City Attorney Mike Aguirre will announce that he is running ...

Municipal Bond Market Chaotic as City Council Looks at 2005 Financial Report

The city council will look at the long-delayed 2005 financial report today (March 3). Mayor Jerry Sanders still insists the ...

Stadium Subsidies Provide All of Pro Sports' Profits, According to Author

David Cay Johnston, New York Times tax reporter, is out with an eye-opening book, "Free Lunch: How the Wealthiest Americans ...