Public Pensions & Bonds...“The Ticking Time Bomb“ : Watch Video (11 min)
Los Angeles, CA In a bombshell expose of California’s massive unfunded public employee benefits the Full Disclosure Network™ will debut a two-part series with public officials and finance expert B. Scott Minerd, CEO Guggenheim Partners, Asset Management on L.A. Cable Channel 36 Sunday, January 7th from 8-9 p.m. and on Monday, January 8th from 4-5 p.m.
An eleven minute preview can be viewed from the link below and provided as a public service, of Full Disclosure Network™ a non-profit, public affairs television program distributed to 43 cable systems. DVDs of the complete series are available upon request.
Scott Minerd was interviewed by Full Disclosure Network™ following the Milken Institute’s “State of the State Conference” last fall, where he served as moderator on a panel discussion entitled “The Ticking Time Bomb”. Expert panelists featured in the six segments with Minerd are:
·Hon. Keith Richman, MD, California State Assembly
·Carl De Maio, President Performance Institute
·Jack Ehnes,CEO California State Teachers Retirement System (CALSTRS)
·Dave Low, California School Employees Association
·Barbara Lloyd, Sr. Vice President Lehman Brothers
General topics covered in the six segments of the Full Disclosure™ series:
Segment #1: Scott Minerd describes his role as a Managing Director of Credit Suisse when he exposed the risky concentration in derivative securities which directly led to the liquidation of the Orange County investment portfolio and the county’s subsequent bankruptcy. He defines the new GASB (General Accounting Standards Board) rules and estimates new disclosures will reveal $300 to $400 billion in unrecorded benefits owed to California public employees.
Segment #2: Will municipal bankruptcies spread across California?
Segment #3: How widespread are the unfunded liabilities?
Segment #4: What role have politicians and public employee unions played in this crisis?
Segment #5: Are the County governments funding their public employee benefit plans?.
Segment #6: Why use Bonds instead of the General Fund to pay for $40 Billion in infrastructure projects that will cost another $40 billion in interest?
Billed as “the news behind the news” the Full Disclosure Network™ since 1992 the program has been hosted by Leslie Dutton, who in 2002 was presented with a local public affairs Emmy Award from the Academy of Television Arts and Sciences for their series entitled “L.A.’s War Against Terrorism”.
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