Scam Diego Entries for October, 2008

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Suit Charges Investors Fleeced of $86 Million to $106 Million in Ponzi Scheme

San Diego attorney Matthew Powell filed suit yesterday (Oct. 30), charging that a group of real estate operators with a ...

First Big Shoe Drops in Next Crash; Citigroup Reports Big Loss in Credit Card Securitization

New York's Citigroup this evening (Oct. 31) reported a $1.4 billion third quarter loss as a result of securitizing of ...

Filner, Aguirre Say Sempra's $100,000 Gift to Lincoln Club Smacks of Attempt to Buy Election

Congressman Bob Filner and City Attorney Mike Aguirre held a press conference in front of headquarters of Sempra Energy today ...

San Diego Lead Indicators Plunge from Year Ago; All Local Components Down

The lead indicators of the San Diego economy compiled by economist Alan Gin of the University of San Diego continued ...

Here Is Double Talk That Only a Corporate Welfare-Loving Jock Worshipper Could Disregard

Get this: Mark Fabiani, lawyer/spokesman for the Chargers, is quoted saying the following on KFMB News today (Oct. 29): "We ...

The Next Duke Cunningham? Hank Paulson, Treasury Secretary

The felonious former San Diego County Congressman Duke Cunningham started on his way to ill-gotten riches by getting a person ...

San Diego Lags State, Los Angeles Area in New Car Sales Year to Date

For the first nine months of this year, the San Diego market lags both the state and Los Angeles/Orange counties ...

San Diego Home Prices Continue Sharp Declines in August; Now Down Almost 33% from 2005 Peak

San Diego County home prices dropped 2.3 percent from July to August, according to Standard & Poor's Case-Shiller Home Price ...

Is San Diego Back to Old Tricks of Publishing False Financial Information?

On Oct. 22 on this blog (see below), I published information from the San Diego Retired Employees' Association (SDCERS), a ...

Union-Tribune Circulation Continues to Drop, but, Generally, Other Southern California Declines Are Greater

The Audit Bureau of Circulations released circulation figures for U.S. newspapers this morning (Oct. 27). For the six months ended ...

Biotech Executive Tina Nova Wins Lawsuit Filed by Vegas Man She Married Briefly

Tina Nova, chief executive of biotech Genoptix, this week was the victor in a lawsuit filed by Las Vegas's Lawrence ...

According to Rumors, U-T Has Been Sold. But Nobody Knows to Whom, and It May Be a Canard

Rumors are making the rounds among former Union-Tribune employees that its parent Copley Press has been sold. It put itself ...

CalPERS Down 19 Percent Since Fiscal Year Began; Employers May Have To Boost Contributions, Increasing Municipalities' Chaos

The California Public Employees' Retirement System, the nation's largest public pension fund, reported today (Oct. 23) that it has lost ...

Mea Culpas by Greenspan, Cox Are Historic; Derivatives Regulation Will Help, but Will Be No Panacea

"We have learned that voluntary regulation does not work," SEC chairman Christopher Cox told a House committee today (Oct. 23). ...

City Pension Portfolio Plunges Below $4 Billion; That's Lower Than Level of Mid-2006

The portfolio assets of the San Diego City Employees' Retirement System have plummeted to an unaudited figure of $3.92 billion, ...

Good News: SDCERS Discussing Lowering Interest Rate on DROP Account

At last, some promising news: the San Diego City Employees' Retirement System is discussing lowering the fat interest payment on ...

County Continues to Lose Jobs in September; Construction, Real Estate Big Losers

San Diego County continued to lose jobs in September, as non-farm employment dropped 5,100, or 0.4 percent from a year ...

Buffett's Bullishness Moves Today's Market. But As His San Diego Experience Shows, Buffett Is Not Always Right

This morning (Oct. 17), billionaire investor Warren Buffett has an op-ed in the New York Times saying he is buying ...

Mayor Sanders Reveals His Administration's Ignorance, Lack of Economic Vigilance

Mayor Jerry Sanders today (Oct. 14) revealed how deeply the City is in an economic hole. Unwittingly, he also revealed ...

Lawsuits Filed Across Nation Against Countrywide Will Be Heard in San Diego

All predatory lending lawsuits filed in the U.S. against Countrywide Financial will be consolidated and heard in U.S. district court ...

Chargers Fans, Relax; There's Not Much Money for Sports, Says Wall Street's Journal

Today's (Oct 14) Wall Street Journal has a story headlined, "As Economy Weakens, Sports Feel a Chill." With other pressing ...

Is Socialism Seductive? Or Was Today's Huge Rally More of a Technical Bounce?

The U.S. stock market shot up more than 11 percent today -- a historic one-day bounce. Of course, it was ...

Asian Markets, U.S. Futures Rise Sunday Evening, Responding Positively to Worldwide Plans To Pour Liquidity into Banks

In early trading Monday morning in Asia (Sun.evening Oct.12 in the U.S.), stock markets reacted positively to plans of major ...

Brandes Takes Another Bath; This One Is in Royal Bank of Scotland

San Diego's Brandes Investment Partners, which has been losing money on major holdings, and also losing clients, has a big ...

NBC Reports Moores Wants To Sell 49 Percent of Padres As Part of Divorce Settlement

NBCSanDiego.com is reporting that Padres majority owner John Moores wants to sell 49 percent of the team as part of ...

Liquidity Flood Is Not Getting Stock Market Drunk. One Reason Is Fear of Banking System Insolvency

The Federal Reserve joins with world central banks to slash interest rates, which are already very low. The Fed is ...

Superb NY Times Story Tells How U.S. Economic Leaders, Particularly Greenspan, Failed To See Possibility of Derivatives Chain Reaction

On the front page of the New York Times today (Oct. 9) is a story that is MUST reading. It ...

For First Time in Ten Years, Consumers Pay Off Debt. This Will Probably Result in Contraction, but Is Actually Positive

For the first month since January of 1998, American consumers in August paid off more debt than they took on, ...

SEC Should Discipline Three Officials Who Interfered with Gary Aguirre's Insider Trading Investigation, Says Inspector General

The Securities and Exchange Commission's inspector general has concluded that the SEC should consider disciplining three officials who kept San ...

Stocks Down 3% to 4%, after Plunging 8%. Markets Take Bath Overseas, Too

As the credit crisis spreads throughout Europe, Russia, Asia and emerging markets, U.S. stocks plummeted between 3% and 4% today ...

Union-Tribune Circulation Continues To Plummet As Skepticism About Sales of Metro Dailies Increases

For August of this year, the Union-Tribune's daily circulation plunged to 266,765 from 283,437 in August of 2007, according to ...

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