Posted by Michael Der Manouel, Jr. at 12:00 am on Oct 07, 2008 2 Comments
State Senator Dean Florez (Blowhard) – Bakersfield, actually
proposed that the State’s retirement system, CALPERS, "invest" in
the State’s debt, in a letter to State Treasurer Bill Lockyer
(D). Lockyer, whose been hiding from the media during the
State’s budget crisis, had no immediate comment, but he had to be
thinking: "why would CALPERS jump onthe Titanic when
she’s already halfway down?
Florez, who’s mom is running for Assembly against Republican
Danny Gilmore, reputedly was an "investment banker" in Shafter for
about 30 seconds before he decided to become a lifetime
politician. Given the intellectual validity of his proposal,
which is uh, zero, its not hard to see why he chose politics.
Its the easiest way to "invest" everyone else’s money.
The fact is, there isn’t a market for California’s paper (for
those of you in Sacramento, that mean "debt") because California
has been run into the ground by Gray Davis and Arnold
Schwarzenegger, with a cast of willing Democrats in the Legislature
pushing higher spending the entire way. Oh sure, there were
a… Read More