Thursday, 28 March 2024
Highlights

Chasing Does ObamaBucks! - An Unnatural Disaster

- R. Ellis Smith

VIEW Issue 12, Mar. 2009: Ok, so as the story goes, under the somewhat dubious watchful eye of Mr. Jay Panzica, Chief Financial Officer of the city of Ventura we were the unlucky holders of $10,000,000 worth of stock in the Lehman Brothers and Washington Mutual.

We all are aware of what happened recently to both of those stalwart organizations and to our $10,000,000 of hard earned tax money, it went the way of the proverbial “Pig in a Poke.” In other words we took a shellacking in the economic meltdown.

Mr. Panzica, says he is confident it won’t be a total loss, but does concede it will probably take a few years to see any return. So in order to try to recover some of our money Mr. Panzica recently traveled to New York to attend bankruptcy hearings on the Lehman Brothers case, the case with the Washington Mutual debacle is so murky that the bankruptcy proceedings haven’t even started yet and there is no time set for a start. Wonder what it cost for Mr. Panzica to go to that meeting in New York?

Ventura is the only city in Ventura County that had money invested in the failed companies, so now the Gang in the Ivory Tower has retained a Bay Area law firm to look into the situation and possibly join other cities in a law suit. Besides losing the initial $10,000,000 Ventura is also losing expected interest income to the tune of around $700,000 for this year alone. So besides losing all that moola the Gang in the Ivory Tower is tossing some more of our tax money to the law firm in the Bay Area and considering spending untold cash to join in a losing law suit. I also wonder how much they are paying that Bay Area law firm?

They say the city has “healthy reserve funds” but we are going to be $6.3 million dollars in the hole for this years budget. I guess I just don’t understand these high financial areas, but I would assume if you have a “healthy reserve fund” this is something the “healthy reserve fund” is intended for, something to fall back on when you get into financial trouble. You know, like when people lose their jobs and have no income, they are forced to dip into any savings, (healthy reserve funds), they may have to make ends meet.

But the Gang in the Ivory Tower would rather cut services to the citizens and layoff employees instead. I just wish somebody in the Ivory Tower would let us know what the hell a “healthy reserve fund” is for.

- Rellis Smith, Ventura


This Story: http://bit.ly/2hrmhbm

Related Story: Blue Ribbon Committee, See Page 5

SOURCE: VIEW Issue 12, Mar, 2009
LINK: NewVIEWWebsite
LINK: Classic VIEW Website
LINK CONTACT: © 2009, Ojai and Ventura VIEW.com

Latest

Cheaters, Failing at the Enterprise of "News Reporting"

May 02, 2023

Dick Lynch - Mayor Stix Ojai Water War Against Ojai, The Ojai Valley INN 30%

November 05, 2022

Are Ojai Elections TOXIC? Toxic Site Cover-up.

October 08, 2022

Living the California Nightmare - Corrupt Public Policies - REPORTS DATABASE

September 17, 2022

Ojai & Ventura VIEW - The DECAY and FALL of the American NEWS MEDIA - A DATABASE

May 18, 2022

Ojai and Ventura VIEW - Communist CHINA - A DATABASE

April 11, 2022

Ojai and Ventura VIEW - IRANIAN Repression/Terror ALERT - A DATABASE

April 11, 2022

Ojai and Ventura VIEW - HUMAN RIGHTS VIOLATIONS - A DATABASE

April 11, 2022

Ojai and Ventura VIEW - ECONOMIC CRIMES from DC, USA - A DATABASE

April 11, 2022

Ojai and Ventura VIEW - DC CORRUPTION - The Washington Swamp - A DATABASE

April 11, 2022

Ojai and Ventura VIEW - CRIME - The Summer of “Love” Riots - A DATABASE

April 11, 2022

Ojai and Ventura VIEW - BIG TECH CRIMES of “Anti”-Social Media - A DATABASE

April 11, 2022

Ojai and Ventura VIEW - ELECTION FRAUD, 2020 Presidential - A DATABASE

April 11, 2022

Ojai and Ventura VIEW - SPYING, The DC SWAMP - A DATABASE

April 11, 2022

Ojai and Ventura VIEW - COMMUNISM FAIL - A DATABASE

April 11, 2022

Ojai and Ventura VIEW - GREEN ENERGY SCAMS - A DATABASE

April 11, 2022

Ojai and Ventura VIEW - Public EDUCATION SWAMP - A DATABASE

April 11, 2022

Ojai and Ventura VIEW - The COVID COVER-UP - CHINA FLU - A DATABASE

April 11, 2022

Ojai and Ventura VIEW - Joe BIDEN CORRUPTION - A DATABASE

April 11, 2022

USA Politics • News ~ The Ojai and Ventura VIEW - UKRAINE INVASION Pt. 2 of 2 (4/7/2022 - Forward), AND The CORRUPT Joe BIDEN & Co. - Reports Database.

April 08, 2022

Dick Lynch - Is Ojai Mayor "ASS BACKWARDS" Betsy Stix' STALLING Ojai?

February 20, 2022

USA Politics • News ~ The Ojai and Ventura VIEW - Spying On, Espionage and Malfeasance Against Pres. Trump - Reports Database.

November 09, 2021

USA Politics • News ~ The Ojai and Ventura VIEW - The CORRUPT Joe BIDEN & Co. - UKRAINE Invasion Pt. 1 of 2 Reports Database.

October 12, 2021

USA Politics • News ~ The Ojai and Ventura VIEW - ILLEGAL BORDER CROSSINGS, MISC. - Reports Database.

September 17, 2021
Share

USA Politics • News ~ The Ojai and Ventura VIEW - Afghanistan Reports Database.

August 13, 2021

EXCLUSIVE: Love Valley 1970: Jamming with the Allman Brothers Band

May 28, 2017

“Designer Label” Environmental Groups - Power Hungry Pied Piper’s to Destruction

March 18, 2017

Jobs? Government & Corporations Feed Themselves Fat Jobs

February 07, 2017

Are You Wearing a Mask?

February 05, 2017

Nepal: The Joys of Human Traffic

February 02, 2017

Education: U.S. Army Ranger Labeled "anti-education"

February 01, 2017

California Dreamin’ – A Recurring Nightmare

January 30, 2017

Most Read

Subscribe for our Video Channel