Comments on: CalPERS seeks to be new California ‘Octopus’

By: DyingTruth

DyingTruth — Fri, 28 Dec 2012 22:11:41 +0000

OF COURSE these public parasites are going to do and/or say anything to protect their bloated pensions and overpaid salaries. They knowingly and continue to let/aid&abett countless numbers of Californians have their homes illegally taken, the entire Bill of Rights be overruled by judicial fiat and allowed(some would argue facilitated) the Peoples’ sovereiegnty to be seized and hijacked in a Financial Coup D’état. ALL FOR THE VERY SAME REASON They would sacrifice all Californians (they practically already have) for personal gain. When we look around and see our state drowning in personal and public debt, in shambles and on the brink of God-knows-what, no termination notice is necessary, OUR GOVERNMENT FAILED, Top-to-Bottom removal is MANDATORY.

By: double l

double l — Thu, 20 Dec 2012 19:31:04 +0000

Is CALPERS squirting octopus ink as a ploy so they can escape scrutiny for their dismal return on investment?

By: The Rt Rev Ted Steele

The Rt Rev Ted Steele — Tue, 18 Dec 2012 22:07:50 +0000

Well said SEESAW— the right ALWAYS forgets how we all got here and how they helped!

zzzzzzzzzzzzzzzzz

By: eatingdogfood

eatingdogfood — Tue, 18 Dec 2012 19:29:32 +0000

Democrats + unions = BANKRUPTCY !!!

By: SeeSaw

SeeSaw — Tue, 18 Dec 2012 18:14:41 +0000

I deal in facts, TL–not opinions.

By: SeeSaw

SeeSaw — Tue, 18 Dec 2012 17:58:21 +0000

You just pointed out the elephant in the room, Rex. Those vacant retail and industrial buildings exist due to the bursting of the scam housing bubble and the abolishment of Redevelopment. The cost of the pensions is a little bug, next to that elephant, in the whole picture of what has happened in SB.

By: Tough Love

Tough Love — Tue, 18 Dec 2012 17:58:21 +0000

Quoting SeeSaw …”CalPERS contends it is “an arm of the state”. It contends it is an arm of the State, because it is.

CalPERS is more appropriately the ARMPIT of the State … to the determent of all of it’s (non Public Sector employee) Taxpayers.

By: Rex the Wonder Dog!

Rex the Wonder Dog! — Tue, 18 Dec 2012 02:31:15 +0000

So what’s the end game for CALPERS here. Do they want judges to force cities like San Bernardino to raise taxes to fund pension obligations for public employees?
==

33% of SB residents live below the poverty line, they cannot raise taxes, there is not money to take.

I have been there recently and there are so many vacant retail and industrial buildings it is amazing……all vacant.

By: Rex the Wonder Dog!

Rex the Wonder Dog! — Mon, 17 Dec 2012 22:42:12 +0000

CalPERS contends it is “an arm of the state” that is immune from the jurisdiction of the bankruptcy court.
Once the muni SUBMITS to the federal court, like it has in SB and Stockton, then the federal court has jurisdiction, and CalTURDS knows it. That is why CalTURDS is in federal court trying not to take a hit- instead of state court suing SB like they said they had the right to. If they had that right they could have bypassed the federal court all together-they didn’t and they know why-they would lose.

CalTURDS will take a haircut just like everyone else in the SB BK, that will in turn open the flood gates for all other muni’s-NATIONWIDE not just CA- to cut pensions in BK court, but they probably will not have to do that, just the THREAT of cutting them in BK court will ring the unions and state pension systems to the bargaining table to bargain a cut.

By: The Ted Steele System

The Ted Steele System — Mon, 17 Dec 2012 20:43:31 +0000

Wayner— Just posting the pleadings has done nothing except to illustrate how your conclusions are faulty. The info from Calpers appears correct to me. Your conclusion about an octopus remains goofy. Calpers use of the term sovereign is used in the exact context of case law and in advocacy of their position here.