Saturday, September 19, 2009

LACERS: L.A. City Pension Problems (Past and Present)

PAST PENSION PROBLEM: Remember when the LACERS experts were discussing the pension packing problems at the council meeting a few months ago and said the MAIN problem with the pension losses was the "Henry Cisneros Workforce Housing." That was Eric's BIG thing, AND...WENDY has a long history with Cisenros HUD workforce housing.

PRESENT PENSION PROBLEM: The other problem the LACERS pension experts said was the problem is the mayor's "packing" of the pension board with four people. The expert said this is too much power and influence on the board. And now we have heard that Villar's pal and consultant Ari Swiller bought land DWP was looking at for wind farms. PENSION MONEY WAS USED. (YOU HAVE KNOW IDEA HOW CLOSE ARI SWILLER AND THE MAYOR ACTUALLY ARE.) But the real problem with the pension money and it's bankrupting effect on the city is it was invested in shady downtown real estate projects (luxury condo towers), but developers ran a "Madoff" scheme where they simply took all the money and simply pilfered (stole) it...thinking they would always be able to cover it...but the music ended, and they were caught with their pants down. I bet it will be discovered that certain luxury condo tower developers were accepting cash payments as rent and were putting it in their pockets. So these luxury housing projects are going bankrupt in a "Madoff-like" scam -- PENSION MONEY WAS USED...AND NOW JUDGES ARE WORKING OUT SETTLEMENTS FOR PENNIES ON THE DOLLAR.

Good luck to any incumbant who thinks they will be re-elected to anything in the future. Do you think Obama wants a bunch of out of control Democrats to make him look bad? THE STUFF HASN'T HIT THE FAN...but if Zuma Dogg knows, so does the Obama administration.

And you know what makes Council REALLY nervous, from what I was told?: I've just sat here for the past three years and made a bunch of big and bold predictions that have now all come true and there is only more left: INDICTIMENTS.


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