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Chairman of San Diego GOP Co-Founded International Piracy Ring, Says Online News Website

Other Story Related Links http://voiceofsandiego.org/articles/2007/08/11/ne… ============================== Oh brother. Thanks Fred, I just threw up after reading that VoSD article and the Republican garbage this clown spewed out........ Typical talking points, that is until they need a Bear Sterns type bail out from their high leverage, high risk business gambling.......errrr...I mean "business practices"!
— April 29, 2008 10:43 p.m.

San Diego House Price Declines Among Largest in Nation

I agree with all of your points. Making banks service their own loans instead of securitizing them and selling them to Wall Street/Bear Stearns Cos and others 1 second after they are funded would cure many/most of the liar loan problems. Here is something you might find interesting on the Bear Stearn Cos. bailout(if you have not already seen it), it is a carbon copy view that Mike Aguirre, his brother, me and just about every single person I know subscribes to and agrees with; http://www.latimes.com/business/la-fi-bear29apr29… Former Fed official criticizes Bear Stearns rescue Vincent Reinhart calls the move the 'worst policy decision in a generation.' (man he aint kidding-lol!) From Bloomberg News April 29, 2008 Vincent Reinhart, a former top Federal Reserve aide, said Monday that the central bank's rescue of Bear Stearns Cos. was the "worst policy decision in a generation." Fed officials invoked emergency powers last month to loan $13 billion to Bear Stearns after the fifth-largest U.S. securities firm said it was considering filing for bankruptcy. "The panicked decision jumped over other possibilities" and may prove as damaging as Fed policy errors that caused the "great contraction" of the 1930s and the "great inflation" of the 1970s, said Reinhart, who was a senior policy advisor to former Fed Chairman Alan Greenspan and the current chairman, Ben S. Bernanke.
— April 29, 2008 12:03 p.m.

Why You Don't Get Accurate Information on San Diego from U-T Editorial Page

HEY LOOK- LA is catching the San Diego pension scamitis disease!!! Pretty soon LA will be facing San Diego style pension black holes...oh wait-they already are!!! And it is no different than the $103 million dollar San Diego pension bond boondogle, delay paying upfront so you can pay DOUBLE on the back end!!!! I love it. L.A. pension-payment delay plan called accounting gimmick A proposal to delay an $81-million payment to the city's employee pension fund until next year is drawing criticism. By David Zahniser, Los Angeles Times Staff Writer April 28, 2008 Los Angeles Mayor Antonio Villaraigosa's plan to balance the city's $7-billion budget is filled with ideas that are starting to draw heat from the public: cuts in Sunday library hours, mandatory employee furloughs and a 38% hike in trash fees, to name a few. But within City Hall, one proposal generating fierce debate is a little-known plan to delay an $81-million payment to the city's employee pension fund until next year -- a move criticized by some as an accounting gimmick. Delaying that payment would cost taxpayers more than $15 million in penalties, according to a document issued Friday by the city's top budget analyst. By 2013 -- which could be Villaraigosa's eighth and final year as mayor, should he win a second term -- the rearranged payment schedule would have cost the city $85 million, a sum larger than the payment being delayed this year. http://www.latimes.com/news/local/la-me-labudget2… L.A. pension-payment delay plan called accounting gimmick A proposal to delay an $81-million payment to the city's employee pension fund until next year is drawing criticism. By David Zahniser, Los Angeles Times Staff Writer April 28, 2008 Los Angeles Mayor Antonio Villaraigosa's plan to balance the city's $7-billion budget is filled with ideas that are starting to draw heat from the public: cuts in Sunday library hours, mandatory employee furloughs and a 38% hike in trash fees, to name a few. But within City Hall, one proposal generating fierce debate is a little-known plan to delay an $81-million payment to the city's employee pension fund until next year -- a move criticized by some as an accounting gimmick. Delaying that payment would cost taxpayers more than $15 million in penalties, according to a document issued Friday by the city's top budget analyst. By 2013 -- which could be Villaraigosa's eighth and final year as mayor, should he win a second term -- the rearranged payment schedule would have cost the city $85 million, a sum larger than the payment being delayed this year. The City Council's Budget and Finance Committee is scheduled to discuss the plan today, the first day of budget hearings. But some council members are raising doubts about the payment proposal. "The fundamental question at the end of the day is, are we being penny-wise and pound-foolish?" asked Councilman Richard Alarcon.
— April 28, 2008 8:05 a.m.

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