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Suit Charges Investors Fleeced of $86 Million to $106 Million in Ponzi Scheme
CapitalSource Finance is a heavy litigator. I wonder if they will find our buddy LaChina for service of process??? http://dockets.justia.com/search?q=CapitalSource+…— November 1, 2008 12:55 p.m.
First Big Shoe Drops in Next Crash; Citigroup Reports Big Loss in Credit Card Securitization
Student loans will be the next financial fiasco to fail. Mark my words.— October 31, 2008 8:55 p.m.
Suit Charges Investors Fleeced of $86 Million to $106 Million in Ponzi Scheme
Didn't you write about the these dirtbags in an earlier article???— October 31, 2008 8:54 p.m.
John Kaheny defends rising pensions in San Diego
We have no one to blame but ourselves, ============================== Sorry, but I cannot take the 'we" blame. I have railed agaist the biggest and most abusive scams-and if not for dirty politicians on the take and public unions bribing said politicians then we would not be in this mess.— October 31, 2008 9:15 a.m.
Here Is Double Talk That Only a Corporate Welfare-Loving Jock Worshipper Could Disregard
Those of us who are adult enough to recognize that professional sports is merely an entertaining diversion must assert control. =================================== Abolutely correct, the adults MUST suprvise the children in these circumstances.— October 31, 2008 9:08 a.m.
John Kaheny defends rising pensions in San Diego
The pension deficit changes minimally with retroactive raises in retirement benefits. ======================================= JF, where do you get this nonsense from?? Sometimes I wonder if you're for real. Retroactive pension increases add hundreds of millions of pension liability with the stroke of a pen. It added $500 million to Orange County's pension liability. I would hardly call half a billion as "minimal". The retroactive increases caused two MAJOR problems; 1) It created a HUGE multi million/billion dollar short fall instantanseously, and 2) It caused huge numbers of public safety to retire at an ealry age when public safety was not prepared for it.— October 30, 2008 11:28 p.m.
John Kaheny defends rising pensions in San Diego
Dont forget the unfunded retiree healthcare. Add another $1.3 Billion to that $1.1 Billion unfnded pension. I imagine with the huge stock market downturn those unfunded numbers are MUCH higher now. ================================ San Diego's pension fund has lost 800 million this year. The fund is currently at 50-60% of full funding.— October 30, 2008 11:22 p.m.
John Kaheny defends rising pensions in San Diego
Heck, I couldn't pay my mortgage off cash tomorrow, but I will pay it off when it's due. By JF 2:17 p.m., Oct 30, 2008 =========================== Yes, but your mortgage is at a fixed rate for a fixed period of time-it does not change, go up exponentially or flucuate with the market, which the pension does, with every retroactive raise.— October 30, 2008 3:11 p.m.
John Kaheny defends rising pensions in San Diego
Mike Conger is the lawyer behind the Corbett settlement, which created 3% at 50. (I'm still waiting for Johnny Vegas to read the settlement and admit that) However, he's also the lawyer behind settlements (McGuigan) requiring the city to pay more into the pension system. =================================== The "settlements" are not going to be worth Jack Sheet if the City files BK JF. BTW JF-Rio Vista, about 20 miles form Vallejo will ALSO be filing BK. As this depression carries on and more and more muni's get behind the 8 ball, the more BK's we will see. BTW-San Diego' penion, ccroding to newly released information is between 50%-60% funded. "US - City attorney Michael Aguirre has claimed an email from a San Diego City retiree shows the managers of the city's pension system knowingly overvalued pension assets in official documents. The attorney’s office said managers of the pension system were aware it suffered an additional US$300m in stock losses, resulting in a total asset value of $3.92bn as of 14 October 2008. It added the funded ratio of the city’s’ employees’ system would be at the lowest level ever, between 50-60%, if the $3.92bn figure was accurate." http://globalpensions.com/showPage.html?page=gp_d… Orange County has lost $1 biliion in the last 90 days of their $6 billion dollars pension funding, which has liability of $8 billion dollars; Our retirement system has experienced 12.5 percent in losses since January 1. A 12.5 percent reduction of an $8 billion portfolio represents a loss of $1 billion. (Translated: Our unfunded liability was $2.7 billion, it is now $3.7 billion.) http://pensiontsunami.com/blog/?p=74— October 30, 2008 10:48 a.m.
Here Is Double Talk That Only a Corporate Welfare-Loving Jock Worshipper Could Disregard
Prop B is DOA. Won't even be close-at least a 10 point loss. There is NO MONEY and no credit for building a stadium ANYWHERE in the entire nation, much less a city as upside down financially as San Diego is. Just is not happening. There will be no stadium for Spanos, even IF he had the politicians in his back pocket, not for a decade at least. If Spanos wants a staduium it won't be for at least a decade=anywhere in America. I don't think San Diego could do a stadium even in 10 years-I don't even think San Diego can avoid BK at this point.— October 29, 2008 10:43 p.m.