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SEC Charges Five Former City Officials with Fraud for Roles in False Municipal Bond Filings
Didn't SDCERS say if they didn't get another penney from the City the could pay all the benefit obligations for the next 40 years? ================== No, they did NOT say that-no one has said that. San Diego cannot pay pension debt RIGHT NOW, why on earth would you think we can pay another 40 years with exponential pension laibilities facing us in the future. Your post is typical of the welfare queen City worker who says there is "no problem" we can fund "another 40 years" while the City cannot even make current payments, much less future payments. Give it a rest-you're in over your head here-the welfare queen lie can be blasted out of the water at 300 years with this crew.— April 11, 2008 3:56 p.m.
SEC Charges Five Former City Officials with Fraud for Roles in False Municipal Bond Filings
At the current rate it would take 20+ years for SD to climb out of that hole. ========= San Diego will never be climbing out of that hole. We are in WAY over our head and we are LONG past the point of no return. San Diego will have to file BK, sooner or later. It is virtually mpossible to climb out of the pension hole that has been dug. We currently have OVER 1,000 "retirees" getting $100K or more per year in pension benefits- like Jack McGrory, getting his 6 figure pension while he works for Sol Proce making another 6 figures in income. So that alone, with nothing else, is over $100 million per year and it is only going to get worse. There are also over 100 "retirees" receiving pensions of more than $180K per year......— April 11, 2008 12:52 p.m.
Medicare broken, Social Security broken, SEC broken
Good choice of words: ROYALLY f**ked. The San Diego overlords are indeed screwing the serfs. Example: Read a pathetic commentary titled "Time for all to get behind stadium effort" on the editorial page of today's U-T. First, it's written by the chairman of the San Diego Regional Economic Development Corp. ================== Ahhh Don, you beat me to it! I almost rolled off my chair when I read that garbage this morning, not kowing whether to die of laughter or heartache because so many will beleive that garbage. Saying the Chargers are "not competetive" (baloney-open the books then), and that the Chargers are a "regional asset" like the Zoo and beaches.....and how the Spanos's have shelled out a whopping $10 million (according to Spanos anyway-but 100% unverified-and I am sure inflated about 1,000%...)........Bwahahahahha......! Guys like him wae the reason we are in this mess to begin with.— April 11, 2008 8:30 a.m.
Award-winner milks Big Bear resort
La China's world is getting very very small, and pretty soon there will be nowhere to run and hide. The word is out-the guy La Chiba is a scammer. All you have to do is run the guys name thru Google and then BOOM! Busted. This thread alone will torpedo any future scam he tries to run on anyone that has half a brain, and most people with money have half a brain today.— April 10, 2008 9:36 p.m.
Award-winner milks Big Bear resort
Alice Dodd, I'd love to "Google" her! ==================== Haha......... Richard better be careful, his next "girlfriend" might be named Bubba.— April 9, 2008 5:27 p.m.
Medicare broken, Social Security broken, SEC broken
BTW-I take it the pic is of Mike and his brother Gary.— April 9, 2008 4:42 p.m.
Medicare broken, Social Security broken, SEC broken
Yes, very good article, liked it! We need to fix things, no doubt about it. Hopefully old Ben will do better at recognizing when and where regulation is needed, since Alan "Mr. Bubble" Greenspan failed miserably.— April 9, 2008 4:39 p.m.
California Is in Such a Financial Quagmire That There Could Be Municipal Bankruptcies
#106. Last I saw, the offset for us was 1%. Remember, it costs the city a lot less to provide us offset instead of pay increases. ================== Baloney-it costs un 100 times MORE. It is shifting one time up front costs recurring costs long term to a person "retiring" at age 50 and maybe living to 100.— April 9, 2008 4:26 p.m.
California Is in Such a Financial Quagmire That There Could Be Municipal Bankruptcies
Justice, The funds are fully funded from the manager's perspective. Not so much from the retiree's perspective. ====================== Translation= Gov employees want a better, "guaranteed" DB pension, unlike everyone else in America.— April 9, 2008 4:21 p.m.
Award-winner milks Big Bear resort
I don't think I have what it takes to pose for Playgirl. ========================== Haha........ Now that was funny!— April 8, 2008 8:31 p.m.