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2 days ago.
by slinky
rocker
#1

Daily breaking news and news the liberal media doesn't want you to know, won't report, or just daily news issues.

Americans for many years have had to rely on left leaning biased news reporting from liberal media such as NBC, ABC, and CBS and the New York Times. As most of these outlets struggle to remain on the air and in print, the new media is flourishing and people are hearing both sides of the issues. This forum will provide people with a place to discuss daily news issues of any kind or discuss articles not printed or aired by the liberal news outlets.

 
 

Member Comments

No Abby , what was the change that caused these people who were in charge of these pensions to blatently risk money that had no business being in the market in the first place ?

Posted 117 days ago.

absolem

An addendum to my post. In 2010 Whirlpool closed a facility in Benton which displaced 216 workers. Now that would affect the city....but it should not have caused the financial calamity they found themselves in.

Posted 117 days ago.

absolem

Moderation....from what I have read...no. Whirlpool actually received a net tax abatement of $71,000.00 in exchange for building a $68 million dollar headquarters in Benton. This is from WNDU television Website. Dated October 18, 2010.

Posted 117 days ago.

absolem

OWO....nothing happened my fried...I just needed to go for the evening. I should have been more time conscious in my statement...sorry.

Posted 117 days ago.

moderation

Do you think the whirlpool tax abatements had anything to do with the city's demise,absolem?

Posted 117 days ago.

What changed Abby ?

Posted 118 days ago.

absolem

Fella's...i'm out of here...take care and i hope to talk with you all soon.

Posted 118 days ago.

absolem

OWO...i think that greed had less to do with it than the distaseful nature of local city council having to increase taxes, permits, or fee's to cover the shortfall in what is paid in and what is paid out. the only way to gain money is to take it or be given it. you should be well aware of how it works. tsk..tsk

Posted 118 days ago.

50 years ago it would have been unheard of risking pensions in the stock market , greed changed that and the little guy got hurt !

Posted 118 days ago.

absolem

policy for custodial credit risk. At year end, investment securities of $11,577,619 were uninsured and unregistered, with securities held.

JPMorgan Chase Bk Diversified Plus Fund - Police and fire pension $ 7,478,519 100%

JPMorgan Chase Bk Diversified Plus Fund - General pension 4,099,100 100%.

Posted 118 days ago.

absolem

Moderation...i did a review of the audit conducted in 2009. below you will find the pertinent and condensed informaton regarding the two pensions and the amounts as well as where there were invested. while almost 12million is alot of money, it is hardly an amount that should sink most credit worthy cities as they could always sell bonds to recoup any loss. please note the classification of the investment.....perhaps in the macro sense, you are correct in one aspect...maybe more...that this indeed did uncover the cat poo in the litter box. but like many other cities within Michigan, fudiciary duties and fiscal management seem foreign to many democratically led cities....just an observation.

Custodial Credit Risk of Investments - Custodial credit risk is the risk that, in the event of the failure of the counterparty, the City will not be able to recover the value of its investments or collateral securities that are in the possession of an outside party. The City does not have a p

Posted 118 days ago.

BeRight

I can't believe the Republicans let Romney speak out against Trump and possible tax problems of Trump.

Romney hasn't paid any taxes in ten years. That must be true since Harry Reid said it,

Posted 118 days ago.

moderation

I guess IT would have been discovered at a later date had we not had the collapse.?

Posted 118 days ago.

absolem

Breath taken.....it appears that they could have used you without spending time on audits and investigations of public malfeasance on the part of the elected officials. Denial and the inability to reel in the comfy perks afforded to the gravy trough of unfunded liabilities as well as non payment of employee payroll taxes...there alot more......

Posted 118 days ago.

moderation

Take a breath absolem,... the real collapse was directly associated with the cds's and the leveraging of the buck by as much as 40:1, was it not? Who made the big bucks at the selling of that prime property? Never let a crisis go unexploited.

Posted 118 days ago.

BeRight

Why we will just take those millions of dollars and invest them in the stock market and the payments will make themselves...............Got news for you. Pension money is already invested in the stock market.

Posted 118 days ago.

And coaldust , the duly elected officals had nothing init , the republinutz "emergancy managers " were the ones with the purse strings , so they alone bear the blame !

Posted 118 days ago.

And on top of that we will get kickbacks from those investment companies and the managers will make out from it ! So you see it not quite as clear an issue as you righties make out !

Posted 118 days ago.

I see a need for some education ! Pension and benefits were fine for 45 years and only when the powers that be thought they found a way around those pesky monthly payments to pensions and benefit packages did we start to see problems !Why we will just take those millions of dollars and invest them in the stock market and the payments will make themselves !

Posted 118 days ago.

Caspiansynn

Shopsteward, I also collect Boker knives and still daily carry a Barlow style Boker my Grandfather gave me used in 1973. In the last few years I have began collecting home made and artisan knives found online or at flea markets, the uniqueness of them attracts me. I have also been dabbling in making some myself, just for fun.

Posted 118 days ago.
 
 
 
 

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