Comments on: And the Beat Goes On http://politicallunacy.wordpress.com/2008/05/10/and-the-beat-goes-on/ Carl Luna pontificates on San Diego politics Fri, 13 Nov 2009 01:03:55 +0000 http://wordpress.com/ hourly 1 By: Everything San Diego » Blog Archive » And the Beat Goes On http://politicallunacy.wordpress.com/2008/05/10/and-the-beat-goes-on/#comment-1176 Everything San Diego » Blog Archive » And the Beat Goes On Thu, 15 May 2008 22:33:17 +0000 http://politicallunacy.wordpress.com/?p=112#comment-1176 [...] Change much like City Hall’s reaction to the latest shoe/minor atomic bombshell whichno-one seemed to notice dropped last month by the SEC. A month ago the SEC charged five former San Diego officials, including “Former-by-virtue-of-having-been-defenestrated-by-then-mayor-Dick-the-Murph-Murphy” Michael Uberuaga, for fraud in misleading Wall Street investors over ...The rest can be found here. [...] [...] Change much like City Hall’s reaction to the latest shoe/minor atomic bombshell whichno-one seemed to notice dropped last month by the SEC. A month ago the SEC charged five former San Diego officials, including “Former-by-virtue-of-having-been-defenestrated-by-then-mayor-Dick-the-Murph-Murphy” Michael Uberuaga, for fraud in misleading Wall Street investors over …The rest can be found here. [...]

]]> By: mlaiuppa http://politicallunacy.wordpress.com/2008/05/10/and-the-beat-goes-on/#comment-1160 mlaiuppa Sat, 10 May 2008 22:44:44 +0000 http://politicallunacy.wordpress.com/?p=112#comment-1160 But don't you see? If they said anything about the Securities and Exchange Commission charges , or the three councilmembers indicted for corruption, the two convicted, or a Mayor resigning in failure....then they'd be admitting Aguirre was right. (Sorry about the migraines....Hillary's almost gone.) But don’t you see? If they said anything about the Securities and Exchange Commission charges , or the three councilmembers indicted for corruption, the two convicted, or a Mayor resigning in failure….then they’d be admitting Aguirre was right.

(Sorry about the migraines….Hillary’s almost gone.)

]]> By: Jeffrey Davis http://politicallunacy.wordpress.com/2008/05/10/and-the-beat-goes-on/#comment-1159 Jeffrey Davis Sat, 10 May 2008 17:46:13 +0000 http://politicallunacy.wordpress.com/?p=112#comment-1159 There's a somewhat odd argument in here: that going down the financial tubes was a result of lying to Wall Street bond investors. Saying that that's indicative of corruption may be true, but it's not the source of our financial problems. Our financial problems have a straight-up political genesis: unwilling to cut services or raise taxes, we borrowed from the pension and cut a poor labor deal to make that happen. Lying to bond investors was just a way to keep the political shell game under wraps. If we're still out of the bond markets, it's because our political game hasn't changed and, stung once, Wall Street is paying attention. Of course, burning the bond folk added to our problems because any city needs to borrow, but especially one running a deficit of political will. Like you said, the beat goes on. There’s a somewhat odd argument in here: that going down the financial tubes was a result of lying to Wall Street bond investors. Saying that that’s indicative of corruption may be true, but it’s not the source of our financial problems.

Our financial problems have a straight-up political genesis: unwilling to cut services or raise taxes, we borrowed from the pension and cut a poor labor deal to make that happen. Lying to bond investors was just a way to keep the political shell game under wraps. If we’re still out of the bond markets, it’s because our political game hasn’t changed and, stung once, Wall Street is paying attention.

Of course, burning the bond folk added to our problems because any city needs to borrow, but especially one running a deficit of political will. Like you said, the beat goes on.

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