I have missed a number of commission sessions, but I do read the papers and watch television for news of local and state issues. One of them is the issue of state officials using pension funds for questionable investments. A short time before Enron went under, along with $7 trillion of the national market, the state administration bought $300 million of Enron stock with pension funds of the teachers retirement fund and $300 million from the firemen and police funds. They became worthless. Nothing happened; it was just a blip on the assets and liability charts. Just recently, it came to light that administration had also bought risky stock with other portfolio funds that affected local governments. When a rush to withdraw half of those portfolio funds occurred, the state closed those funds to preclude further erosion of that portfolio. As I understand it, Mr. Stepanovich, a significant member of that committee, has resigned. The question remains: Who will be held accountable for making those risky investments? ...more

December 22, 2007

Crisis is not new to the agency that oversees Florida's multibillion-dollar investments of pensions and other large taxpayer funds. ...more

December 8, 2007

Upon hearing a discussion on how badly the Democrats were handling the current government, I listened to the specific details. ...more

October 14, 2007

Imprisoned former Enron CEO Jeffrey Skilling asked Friday for a new trial, saying the Justice Department used incorrect legal theories and 'coercive and abusive tactics' to win a conviction, including threatening witnesses. ...more

September 8, 2007