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TraderMark
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Mark's mutual fund is launching December 15, 2011. He is a self taught private investor who operates the website Fund My Mutual Fund (http://fundmymutualfund.com); a daily mix of market, economic, and stock specific commentary. Fascinated by the market since an early age, he discovered mutual... More
My company:
Paladin Funds
My blog:
Market Montage
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  • Leftfield
    , contributor
    Comments (3939) | Send Message
     
    I know California is the land of fruits and nuts, but how did they allow this stuff to get so far out of control? The public sector constantly abuses the private sector and has finally stifled the American Way, but how did a poor town of 40,000 manage to ever allow these $millions to go to their own local destroyers of dreams and opportunity?
    24 Jul 2010, 06:54 AM Reply Like
  • TraderMark
    , contributor
    Comments (2422) | Send Message
     
    Author’s reply » It is truly amazing isn't it? I think if there was true transparency not just of salary but the benefits (pensions, healthcare) our public employees are getting those in the private sector would revolt. Especially considering each year private sector workers are expected to take on more of the share of their healthcare costs and pensions are a thing of the Leave it to Beaver era for most. Thankfully we have little transparency in government so the scam goes on.

     

    If you dare question it, you hate police, teachers, and fireman.
    24 Jul 2010, 02:09 PM Reply Like
  • Loverboy
    , contributor
    Comments (645) | Send Message
     
    are we fascist? seems that way...

     

    or maybe we would rather be blissfully ignorant.

     

    scary to think of what will happen when (if?) the truth of these absurd entitlement costs get out in the mainstream.

     

    To answer letfield, it is not just California, and it is because bureaucrat's get to make decisions regarding other bureaucrat's - and the downward spiral of waste continues unchecked!
    24 Jul 2010, 04:48 PM Reply Like
  • FourDfix
    , contributor
    Comments (110) | Send Message
     
    The truth is known. The problem is that the ones that hold the keys to change are the ones giving themselves the raises and have the power. No one cared as long as the illusion of posterity was there. Now that it is gone, there is not much we can do as non-public employees. Would you decline those kinds of benefits if they were offered to you? The fault is ours. "let them (us) eat cake"
    26 Jul 2010, 12:46 PM Reply Like
  • blunderbuss
    , contributor
    Comments (381) | Send Message
     
    Might I suggest that state governments make it a law to disclose all public officials whose annual base salaries exceed $100,000 USD? I'm presuming that laws like that aren't in place in most American states.

     

    There was quite an uproar when a conservative government in Ontario made a similar law -- plenty of university presidents and public broadcasting reporters had to 'fess up about how much they were feathering their nests....
    27 Jul 2010, 06:42 AM Reply Like
  • TraderMark
    , contributor
    Comments (2422) | Send Message
     
    Author’s reply » No such law. I can imagine all the roadblocks those in power would put in place to make sure it did not happen.

     

    The problem is just as with our financial regulators, the foxes run the hen houses in most aspects of American life. They do not like the light shown on their cockroach ways.

     

    To the other guy above, of course no one will decline these wages and benefits. That's the point - you need full transparency. If people knew of these things when they were approved it would be different. Especially the public pensions which are spread out over many years and full of accounting tricks to make the hit seem minor. But now the tide has gone out and a wave of local levies and taxes are coming so that we can "save the schools and police" (translation - pay massive pensions that have no place anymore in the private sector)
    27 Jul 2010, 09:22 AM Reply Like
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