Cali votes to increase taxes to offset education cuts. Why are they stupid...?

[Avery]

University Of California Deals With Wall Street Banks Could Wipe Out Prop 30 Gains, Report Says

Earlier this month, California voters passed Proposition 30, a ballot measure containing a number of tax increases that will help avoid drastic cuts to the state's higher education system.

But according to a recent UC Berkeley report, all of those gains could be wiped out by a series of deals made by University of California administrators. Many of those officials, the report notes, have close ties to Wall Street firms making millions in profits from the state's cash-strapped institutions.

The report, titled "Swapping Our Future: How Students And Taxpayers Are Funding Risky UC Borrowing And Wall Street Profits," charges that the University of California system has lost almost $57 million dollars on deals so far -- and the losses are continuing at a rate of some $750,000 each month. Potential loses, it claims, may reach up to another $200 million.

http://www.huffingtonpost.com/2012/1...comm_ref=false


Congrats on voting yourselves a tax hike to payoff Wall Street firms, California!

[I invented that]

it's the thought that counts.

[stripes]

we need gubment in charge of more tax money & programs

[I invented that]

we need gubment in charge of more tax money & programs

it cost the government $4,000,000 to give away $12,000,000. now that's what ya call shovel ready jobs.

http://www.wafb.com/story/20111961/4...br-food-stamps

[stripes]

i like the billions of $ they get scammed out of in medicare & medicaid on an annual basis.

[BeetTheBoxer]

[shitcunt]

Cali has a dem supermajority now. They don't even need the voters to pass tax increases. It's gonna get interesting.

[SiriusDawg]

it cost the government $4,000,000 to give away $12,000,000. now that's what ya call shovel ready jobs.

http://www.wafb.com/story/20111961/4...br-food-stamps

Agreed. How dare they give away emergency aid to Hurricane victims. The stupidity of that right-wing Governor who told the Democratic Gov during Katrina that ALL federal programs should be better controlled by the Governor!

[I invented that]

Agreed. How dare they give away emergency aid to Hurricane victims. The stupidity of that right-wing Governor who told the Democratic Gov during Katrina that ALL federal programs should be better controlled by the Governor!

you don't find it odd it takes $4 million to give away $12 million? the red cross distributes 91% of contributions to aid victims. if govt had given $16 million to red cross, red cross would have given $14.56 million in aid.

[SiriusDawg]

you don't find it odd it takes $4 million to give away $12 million? the red cross distributes 91% of contributions to aid victims. if govt had given $16 million to red cross, red cross would have given $14.56 million in aid.

I find most state & federal programs to be run like shit.

In this case, it is what it is....the victims needed help.