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Educrats: Collective bargaining rights trump existing state law

August 21, 2012 By admin. Aug. 21, 2012 By Chris Reed The key to understanding Golden State politics is knowing that the most powerful forces in Sacramento by a wide margin are the California Teachers Association and the California Federation of Teachers. Using union dues and benefitting from the bizarrely enduring notion that what is good for teachers is good for students, the CTA and CFT dominate Sacramento t...

Bankruptcy no panacea for pensions

August 20, 2012 By Steven Greenhut. Aug. 20, 2012 By Steven Greenhut SACRAMENTO – Municipal bonds have long been among the safest investments, but a coming wave of municipal bankruptcies in California -- and the disturbing way one of those cities is stiffing its bondholders -- could change perceptions about the wisdom of lending money to cities. The struggling port city of Stockton has declared bankruptcy after a spen...

Confusion: Each Calif. state agency uses different accounting numbers

August 20, 2012 By admin. Aug. 20, 2012 By Wayne Lusvardi In 15th century Italy, the Medici Bank issued two sets of currency: gold Florins for exclusive use by the wealthy and silver Piccioli only for use by the poor.  Since it was forbidden to break down Florins into smaller coins that might be used by the poor, bankers had to invent a purely fictional accounting currency so that wholesale prices could be ca...

Government octopus strangling state

August 20, 2012 By Katy Grimes. August 20, 2012 By Katy Grimes If forces are at work quelling America, the best place to start would be right here in California. California used to be the 6th largest economy in the world, with rich natural resources, prime agricultural land, the innovations of Silicon Valley, and a once envied education system. But the land of milk and honey has turned sour and bitter, full of en...
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