name dropping typically isn’t my style, but FWIW WRT a financial stress test,…
[quote=phaster]
as I see things,… the main stream news along w/ “fake leadership” ignoring the cluster fuck, only makes the makes the problem (and the various knock on effects) more difficult to fix
too bad there wasn’t a California voter proposition that mandated a uniform/warning-label be worn to clearly identify those at the controls (along with their partisans) so sheeple in SD understand the public pension debt obligations are self inflected wounds caused by DISHONEST and DUMB portfolio management
if it were up to me, I’d recommend a public pension portfolio stress test (kind of like what the fed does w/ too big to fail banks)
but alas seems “cannabis equity” is a more pressing issue
[quote] POT BUSINESS HELP FOR LOW-INCOME?
San Diego Councilman Chris Ward plans to propose a “cannabis equity” program this spring that would aim to give low-income residents in neighborhoods affected by the war on drugs a leg up in opening marijuana businesses in the city.
…Bry, who was a high-tech entrepreneur before joining the council in 2016, said she’s researching how the city could legally encourage marijuana entrepreneurs to use the high-tech model when launching their businesses.
“It’s not fully baked,” she said. “I’m at the beginning of exploring it.”
…It would be illegal to have a cannabis equity program based on race or ethnicity, but programs based on income are legal under state law.
I’ve been in contact w/ the dude who called the OC bankruptcy back in the ’90s and asked him now that he is in CA state senate what his thoughts were on a financial stress test,… his gMail response a while back mentions stuff off balance sheet but auditors are looking
[quote=John Moorlach]
We’ve already tried a California Rule bill. No luck.
The retiree medical liabilities are now required to be on the Balance Sheets. We’re waiting for the CAFRs. I think this new requirement has really slowed down the auditors, as it’s near the end of February and they should have been completed by December.
so while the local ass clowns work on “cannabis equity” sadly it seems they are not spending time leaning lessons about happened to OC back in the 90’s
[quote] Lessons learned from 1994 county bankruptcy
At $2 billion, it was the largest municipal bankruptcy in American history up to that time. Orange County remains the nation’s third-largest bankruptcy, behind only the $4 billion bankruptcy of Jefferson County, Ala., in 2011 and the $20 billion bankruptcy of Detroit, Mich., in 2013.
…The treasurer and auditor-controller have significantly increased the transparency of information, and implemented additional protections for public funds and taxpayers. The treasurer now provides all investment reports, detailed investment information and TOC meeting agendas and minutes on the website. The auditor-controller’s auditing has become more aggressive to better protect the taxpayers. Orange County audit reports are now publicly issued to the press and as part of the board of supervisors meeting agenda. The audit findings must be responded to by the agency being audited (e.g., the treasurer). The auditor-controller’s office conducts regular follow-up audits until the concerns are resolved. Like the initial audits, the follow-up audits are also publicly issued to the press and as part of the board of supervisors meeting agenda.
The treasurer is the fiduciary protecting and safeguarding the people’s money, and the auditor-controller is the watchdog protecting the taxpayers of Orange County. Together, we are the county’s top financial officials, and we are constantly working to improve and protect the people’s finances.
