Wednesday, March 25, 2009

ALERT: City of Los Angeles To Go BANKRUPT Over City Employee Pension & Retirement Funds (Councilmember Calls It "Armageddon!")

EXCUSE ME!!! Zuma Dogg was absolutley floored and flabbergasted in a VERY REAL way today, during Item 28 of today's Los Angeles City Council meeting. I'm sure it will be all you hear about for the next two years. At the end of the discussion that you can see HERE -- starting off with ZUMA DOGG's Public Comment and followed by the discussion that unviels it all, right before your very eyes and ears. Basically, it was announced that in 2012, if measures (that Zuma Dogg details in the public comment) are not taken, 56% of the city's general fund, 56% of every L.A. City dollar, will have to go to cover the city employee's pension and retirement funds. You see, the city's investment team played fast and loose with the city taxpayer money, and Zuma Dogg feels the mayor strongarmed LACER into investing in risky city development projects and projects of his favorite developers. (See Meurello Maxxox and Grand Ave Project stories) and now LACER has lost $7 BILLION DOLLARS THIS PAST YEAR!!!

And guess what kiddies, these pension and retirement funds are guaranteed by the city, so the city has to pay the difference out of the general fund!!!

As I heard this, and literally became flabbergasted, as you can see in my follow up public comment on the next item (a pure Emmy Award level comedic performance), I asked one of the CMs (who I won't name or CMs may not talk to me), if it was as bad as it sounds, because I don't wanna over-exaggerate: The CM said, "It's Armmagedon." Then did add, "Measures can be taken to help." But the feeling was, massive pain at this point cannot be avoided. Again, if you want to see what it will take to help reduce the financial strain, I detail it in my public comment, that is followed by the discussion. IT'S A DOOSEY! And I am not being arrogant when I say, "I detail" as though "I" came up with the solutions and the city better listen. NO, just the opposite: The benefit of Zuma Dogg being at the Council meetings, allows me access to Councilmembers and top City Hall staffers who I interviewed before the agenda item, to ask the what the things Zuma Dogg needs to be saying that the other CMs are scared or don't want to say. THE TRUTH IS OUT THERE, BUT THE COUNCILMEMBERS AND OTHERS DON'T REALLY WANT TO COME OUT AND SAY IT, SO THEY ACTUALLY DON'T MIND TELLING ME, knowing that I will say it for everyone else. AND OF COURSE YOU COULD HAVE HEARD ALL OF THIS ONLINE DURING THE BUDGET COMMITTEE MEETING HEARINGS, WHERE IT WAS ALL SAID.

I DON'T KNOW WHAT ELSE TO SAY...IF I DO NOT HEAR THE AM RADIO TALK SHOW HOSTS TALKING ABOUT THIS ONE...IT WILL REALLY SAY A LOT TO ME. I REALLY DON'T KNOW WHAT ELSE IT WOULD TAKE FOR A TALK SHOW HOST IN THIS TOWN TO TALK ABOUT SOMETHING BESIDES ILLEGAL IMMIGRATION. THAT IS A PROBLEM, BUT IT IS POSSIBLE TO TALK ABOUT SOMETHING ELSE BESIDES BARACK OBAMA BASHING AND ILLEGAL IMMIGRATION. I can't wait to tune in. I really am optimistic that even local AM Talk Radio show circus clowns can't ignore this one.

MORE ZUMA DOGG PUBLIC COMMENTS FROM WEDNESDAY'S MEETING: Runway Film & TV Production: Click here (So that's 3 public comments to see on this blog post. Interesting note: Although my GENERAL public comment from today IS on the city internet archives, nothing from it pops up in the same keyword search box that all this other stuff popped up in. I wonder if it's some kind of technical accident, or if the Meurello Maddox story I dedidcated the entire public comment to was something they had to try and prevent from popping up in the search box.)

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