The council recently retained a new firm to manage $24 million of what they called in the Agenda; "EXTRA MONEY".The money is the Municipal Employee's Retirement Fund. It's probably underfunded too! It turns out that this new firm is asking council for more flexibility in how they invest that $24 million. They are going to lower the bar when previously, stocks and bonds were acceptable.
This interview link with Matt Taibi from Rolling Stone gives an interesting interview to Tom Hartman about exactly the same subject of what's happening to the Municipal Retirement Fund. Is that why they needed this firm that represents multiple cities that belong to SANDAG and the League Of California Cities? Hey! It's your money or former public employee's future retirement funds at stake ! What do you think? Is this a scam to peel off yet more public money for the wealthy and powerful?
http://www.youtube.com/watch?v=KxPuB3B5DnU
