Archive for March 15th, 2012

InlandPolitics: No good deed goes unpunished

State Senator Bob Dutton left. San Manuel Tribal Chairman James Ramos right.

Thursday, March 15, 2012 – 10:00 a.m.

For State Senator Bob Dutton (R-Rancho Cucamonga) no good deed goes unpunished.

Dutton, a candidate for the 31st Congressional District lost out on the California GOP endorsement this week, after the San Bernardino County Republican Central Committee, last week, took a neutral position on endorsing between he and Congressman Gary Miller (R-Diamond Bar).

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Wyatt Buchanan,Marisa Lagos
Thursday, March 15, 2012

Sacramento –Gov. Jerry Brown said Wednesday he had struck a deal with supporters of a rival tax initiative to unite behind a new ballot measure that combines elements of both proposals to increase the state sales tax and raise income taxes on the wealthiest Californians.

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By Dale Kasler
Published: Wednesday, Mar. 14, 2012 – 12:55 pm

CalPERS gave final approval today to a quarter-point reduction in its investment forecast, but will look at softening the fiscal impact on government budgets.

The lowered forecast will cost the state an extra $167 million a year, and will also raise costs for the school districts and municipalities that belong to the California Public Employees’ Retirement System.

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Wall Street was abuzz Wednesday after a high-ranking Goldman Sachs executive resigned and authored a scathing essay in the New York Times about how the investment bank had lost its moral backbone. Here is a look at some criticisms hurled at Goldman in recent years and some of the harsh ways the investment bank has described its own investors.

By Sarah Halzack, Published: March 14

Goldman Sachs on Wednesday rebuffed claims made by a former company executive that the investment bank had morphed into a “toxic and destructive” environment where corporate greed trumped client interests.

In an essay published in the New York Times, Greg Smith, a Goldman executive director, bashed the Wall Street firm, including chief executive Lloyd Blankfein and president Gary D. Cohn, for allowing the company to lose its “moral fiber.”

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