EXTRA, EXTRA, Read All About It…City of Los Angeles Announces They Have To Deplete Reserve Fund To Make Payroll (Meltdown Begins!)

[Pictured: L.A. City Hall appears to be turned upside down these days amidst a crisis with no leaders on board. At least the credit rating agencies seem to think so.]

  1. ITEM 12 on Tuesday L.A. City Council Agenda: Council to reaffirm request to DWP to transfer the damn money. Gonna get ugly. Can’t wait! TV35
  2. Meg Whitman gives Gov campaign for GOP another $20m. That’s $59m so far from personal fortune. She’s already spent $46m. (Good luck Jerry!)
  3. R U STILL CRYING ABOUT THIS: Council & Villaraigsoa Increased Workforce, Raises In Face Of Budget Crisis http://tinyurl.com/yazngsn OLD NEWS
  4. DAILY NEWS Breaking news: City could go broke by June 30: Los Angeles could be broke by June 30 – http://bit.ly/adX0pv (I TRIED, WENDY!)
  5. DWP DOWNGRADE TO MATCH CITY’S?: Fitch rating agency had assumed the rate increase would be approved. http://ow.ly/1uWOK (This is SO blown)
  6. RT @JerryBrown2010: Tomorrow at 10a details of Corey Haim’s “Dr Shopping” for pills. (ANYTHING but exposing political corruption, Jerry.)
  7. Letter from Wendy to Mayor and Council saying they’re gonna be broke in June. Real doomsday stuff… http://ow.ly/1uUaE
  8. Breaking news: L.A. faces insolvency without using $90M in reserves: The Los Angeles city controller has warned th… http://bit.ly/doTnCm
  9. EXTREMELY SHORT TERM FIX?: “By tapping into reserves, Greuel also warns the CITY WILL EXHAUST THE RESERVES by June 30.” Hi, Wendy! It’s ZD!
  10. ZD said, “You won’t have to lay people off, you’re gonna run out of $.” Now Controller warns city won’t make May payroll w/out reserve fund.
  11. Los Angeles Faces Insolvency Without Using Reserve Fund – http://ow.ly/1uTcq (Huh, ZD told you Wendy. You’re dumber than a pet rock.)
  12. DWP Tells L.A. City, “NO” To Shady $73 Million Money Transfer, and L.A. Controller Announces City is Broke in June http://ow.ly/1uTau
  13. BREAKING NEWS: DWP says it will NOT give City of L.A. it’s shady $73 million that dummy controller Wendy Greuel is asking for to pay bills.

JUST WONDERING: I thought the City Charter mandates that the reserve fund be kept at a certain level. If so, they sure as hell won’t be at that level after a $90 million transfer. This can’t be true, cause otherwise I’m sure Wendy “Hellen Keller” Greuel won’t be speaking of this measure.

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