New York Congressional Race District 23 is a revolt of Republican registered voters against their own party. They want limited government and are demonstrating to their party officials and leaders, they mean business. Scott Wheeler, Executive Director of the National Republican Trustdrops in for a quick update on the battle that illustrates for Republican Party bosses what their voters want and what constitutes a deal breaker.
As the Fight Over Global Warming Heats Up, so does growing skepticism and concern over flaws in the climate change models and so does the frenzy of the proponents for cap-and-trade legislation in the Senate, to ram policy through without delay. Is it really a crisis? If so, what's the crisis?
Tom Borelli, formidable advocate for free enterprise, editor of FreeEnterpriser.com and Director of the Free Enterprise Project at the National Center for Public Policy Research, joins us to talk about the proposed cap-and-trade policy, and what is shaping up as an epic battle between the U.S. Chamber of Commerce to defeat it, and the Obama Administration's relentless pursuit to ram it through.
Who are the players? Who are the companies that have jumped ship and joined with Obama's team? Who wins and who loses if the U.S. Chamber of Commerce loses?
Pension Funds for Public Employees Lost $600 Billion Last Year (fiscal year ended June 30), and taxpayers are on the hook. Calpers'losses, with funds guaranteed by the taxpayers, are 9.4% of that $600 billion dollars.
Marcia Fritz, President of Californians for Pension Reform, joins us to discuss the unbelievable, corrupt, costly abuse of public trust and the public's legal obligation to cover the losses. We'll look at how Calpers directors have played fast and loose, taken extreme and hazardous risks on investments, and incurred massive losses, down $56.2 billion in one year, 23% of the value, with funds guaranteed by taxpayers.
Worse, in a pay to play racket, former Calpers board member reaped $50 million in fees for arranging the "winning investments." Calpers is an example for what has taken place across the country. Some would call it betrayal, graft, abuse and theft by public employee fund managers but "Calpers' CIO says there's no moral hazard in fund's guarantee by taxpayers."
Ms Fritz will talk with us on how to put the brakes on this now.
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