Archive for November 19th, 2012

InlandPolitics: This and that!

Monday, October 19, 2012 – 10:00 a.m.

Here’s a recap of news of interest flowing across the transom this past week.

Market skid continued on

The Dow Jones Industrial Average skid of more than 1,000 points continued last week. Most analysts expect a bumpy road ahead as negotiations over avoiding deep federal budget cuts try and get off the ground.

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November 17, 2012 2:22 PM
Brooke Edwards Staggs, City Editor

VICTORVILLE • It’s been more than two years since the Securities and Exchange Commission first subpoenaed Victorville, requesting documentation on how the city has spent $480 million in bond funds over the last decade.

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By John Howard | 11/19/12 5:00 AM PST

Months before California voters approved new taxes in the Nov. 6 election, accounting practices in the state budget were changed – changes that ultimately could make it much harder to define just how much money the state has taken in or is likely to get.

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Calpensions: High cost of leaving CalPERS may get higher

By Ed Mendel
Monday, October 199, 2012

The CalPERS board may make it more costly for struggling local governments to close their pension plans.

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OCRegister: Is California really a purple state?

Published: Nov. 16, 2012 Updated: 4:44 p.m.

SACRAMENTO – California enjoys a reputation as one of the most liberal states in the nation. And yet, on Election Night, when voters for the first time in American history approved gay marriage and recreational marijuana use, it was in Washington, Colorado and Maine – not California.

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In California, little of the relief from Bank of America, JP Morgan Chase and Wells Fargo has gone toward principal reduction to help families keep their homes.

By Alejandro Lazo and E. Scott Reckard, Los Angeles Times
November 19, 2012

Big banks are giving billions of dollars to distressed California homeowners through a landmark mortgage settlement — but mostly to get people out of their homes rather than help them stay.

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