Now that local Los Angeles blogger and activist Jim Alger is in Washington, D.C., working for President Barack Obama's office in some capacity, I don't want Jim to lose touch with local issues here in the City of Los Angeles, and depending on what Mr. Alger does, perhaps he can make sure President Obama is aware of some of these Federal and local issues.
1.) First and foremost, as of yesterday's (03/24/09) agenda item 28 of the Los Angeles City Council agenda; the $7 BILLION dollars that the city's LACER pension and retirement funds LOST this past year, will now have to be covered by taxpayers out of the City's general fund. When next year's budget is released, the city will be sacked with the $7 billion dollar loss that must be covered. And if measure are not taken as prescribed by local public advocate "Zuma Dogg" (see video here, followed by entire City Council discussion and presentation) then it is projected that FIFTY SIX (56%) of all city dollars will be going to the LACER pension and retirement bailout. AND THAT'S WHAT IT IS, A BAILOUT!
SO HERE IS WHAT ZUMA DOGG WOULD LIKE BARACK OBAMA TO CHECK OUT ON BEHALF OF THE LOS ANGELES CITY TAXPAYER FUNDED GENERAL FUND:
The city hired financial Wall Street investor types to manage these pension and retirement funds. LET'S OPEN THE BOOKS AND SEE WHERE THEY WERE INVESTING? What projects, what stock market investments. Were the brokers managing these funds contributing to Villaragiosa to get the account? How much did the brokers make off all of this? Are we going to find the same "bonus" problems that A.I.G. had, with the firms that just lost the city of Los Angeles $7 BILLION in ONE YEAR??? What is being done now about the investments? Certainly, you can't have these dummies still in charge.
AND HERE'S THE EXTRA QUESTION ZUMA DOGG IS AKSING: As you know Uncle MC Zuma Dogg attends every council meeting and occasional committee meeting at City Hall. So let me tell you people, over the course of the past three years, when every city worker and employee and manager basically knows "ZD" when THEY enter the council chambers, sometimes they get excited and like to start talking to ZD to say hello. AND THAT'S WHEN HE PUMPS 'EM FOR INSIDE INFO. And I must be good. Because here is the question I am now aksing:
DID LOS ANGELES MAYOR ANTONIO VILLARAIGOSA STRONG ARM LACERS PORTFOLIO MANAGERS TO INVEST IN HIS CRONIES' REAL ESTATE PROJECTS AND SHADY CRA PROJECTS LIKE "GRAND AVENUE PROJECT" THAT ZUMA DOGG MADE SO MUCH NOISE OVER, LACER ACTUALLY ENDED UP PULLING OUT OF THE PROJECT, AS THEY SHOULD HAVE, NOW THAT WE HAVE HISTORIC PERSPECTIVE ON THAT LOSER CRA/City Council/Board of County Loservisors TAXPAYER SINKHOLE?
Look into the CRA projects and these Muerello Maddox downtown projects? Was the mayor having LACER invest in these loser projects? Could this be a big reason why the City just lost $7 billion in one year like Ben Affleck losing a million dollar hand in Vegas.
HEY, GIVE ZUMA DOGG THE F*CKING MONEY! I GUARANTEE I WILL ONLY LOSE $6 BILLLION AND THE CITY WOULD HAVE SAVED A BILLION, YOU DUMMIES.
So Barack, look into this whole pension/retirement fund mess that the city is now stuck dealing with, because I can tell you as someone who has attended every council meeting this past year, there are no leaders in any of those City Council seats, and they will all talk about the sky falling, but no one will be pulling out an umbrella or making a decision or any of the hard calls that have to be made.
Again, see my public comment on the link above, and the other thing I didn't mention in the comment is that city workers are going to have to start paying more into the LACER fund.
Also see posts on this blog about
20,000 "Expensive Hotels" Counted As Affordable Housing Units For HUD Money:
And most importantly, Interpreting Deming's 14 Points.
AND MUCH MORE AT HTTP://ZumaTIMES.com