Tuesday, April 6, 2010
Califronia Pensions at Risk!
500 billion dollars. That's how much money the California Pension System needs to keep going. Essentially, millions of retirees in California may end up with a useless pension fund. Meanwhile, the Justice Department is investigating the California pension fund. Apparently, there are concerns over investment managers accepts bribes to put pension funds in some question areas. It looks like California is going down the toilet.
Study: California Public Pensions Underfunded by Over $500B
http://www.californiahealthline.org/articles/2010/4/6/study-california-public-pensions-underfunded-by-over-500b.aspx
Criminal probe targets Calif. pension fund
http://www.google.com/hostednews/ap/article/ALeqM5hkNMFPfGdU9ct1SyHrgCH1UqM3UwD9EMKN4G0
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Pensions all over the US are over promised and underfunded. California is the tip of the iceberg even if it is a big tip.
ReplyDeleteI am not as sanguine about the strikedown of internet regulations. It means that the IPs get to prioritize packets. It means that your packets can be deliberately slowed down to encourage you to pay for premium service. It will allow the IPs to bleed you for more money without providing more service. In other places such as harbors, queues for service, and so forth, such behavior would not be allowed.