My Tuesday Rant
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