Public Pensions Betrayed by Fraud and Abuse?

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Sun, 04/17/2011 - 17:28 | 1178503 web bot
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Hey Leo,

I hear Bloomberg is looking for someone to report live from Fukashima. Why don't you crawl over there and report live in front of Reactor 3.

You're an expert on everything, so go to it...

Sun, 04/17/2011 - 17:14 | 1178487 web bot
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If everyone of us post like this, before too long, no one will be reading Leo's trash.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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Sun, 04/17/2011 - 17:16 | 1178486 web bot
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This is how the community is going to deal with Leo.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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Sun, 04/17/2011 - 17:34 | 1178467 akak
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Let me summarize the wisdom of Leo:

 

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Sun, 04/17/2011 - 18:14 | 1178570 web bot
web bot's picture

+100000000

 

Now all we need is 35 more of us and Leo's history. No one will ever read his basura (garbage) again.

Sun, 04/17/2011 - 13:55 | 1178073 topcallingtroll
topcallingtroll's picture

Leo you need to remind them about the trolling rules.

All trolls may publish freely, but there is an annual license fee.

Sun, 04/17/2011 - 13:55 | 1178077 topcallingtroll
topcallingtroll's picture

However you are one of the weaker writers among the regular contributors.  But keep trying.  Practice makes perfect.  I still love you.

Sun, 04/17/2011 - 16:54 | 1178459 akak
akak's picture

You must love munching on shit sandwiches as well, I guess.

Leo is just a shit sandwich with a side of lies and a tall glass of Keynesian koolaid.

Sun, 04/17/2011 - 13:48 | 1178050 topcallingtroll
topcallingtroll's picture

I will go to jail for a year for one million dollars.  I am sure he was smart enough to "fritter" it all away. and now he is a pauper.

I have never declared taxes on any of my gold and silver sales windfalls.  I am also going to fucking hose all the banks on my way out if I have six months warning.

In probate court my wife will appear completely ashamed with tears in her eyes.  "He spent every bit of it on hookers, drugs and gambling the last few years.  I didn't know what to do.  I feel so ashamed for the kids having to go through this.  He was leading a double life.  I just didn't want to believe it.  I thought I could get him to change."

 

He he he.  The only assets I will openly leave will be assets that cannot be attached by creditors and that bypass probate court.  I have thoroughly studied the law in this matter.  Good luck proving fraud 20 years from now when I have dedicated my life to making sure the government and the parasites and the banks get zilch when I die.

Sun, 04/17/2011 - 00:19 | 1177244 web bot
web bot's picture

Leo,

What kind of a #uckin idiot are you? You, a Canadian "liberal" lackey who only understands government handouts, posts a copy of a Bloomberg article, trying to pass yourself off as some pension guru. Is the barrel that dry in your head that you have to resort to this level of seeking status?

 

<Paging Mr.Akak... Paging Mr. Akak>

 

 

Sun, 04/17/2011 - 00:23 | 1177291 akak
akak's picture

You rang?

Actually, I think I have unloaded enough on Leo for one day --- several times in two different threads.  His cowardly refusal (and intellectual inability) to respond or attempt to rebut the many challenges to his statist, pro-Establishment diatribes and appeals to corrupt authority makes it like screaming at the birds in the park past a certain point.

Sun, 04/17/2011 - 00:32 | 1177309 web bot
web bot's picture

<laughing out loud.>

Ya - I mauled him pretty good this evening also. Anytime I've ever questioned him on his postings, he's never been able to respond intelligently or sensibly. All I've ever gotten is some smart ass comment. He #uckin well deserves what he's getting from the ZH audience.

Sun, 04/17/2011 - 00:39 | 1177316 akak
akak's picture

Indeed.  I have zero sympathy or pity for him --- he is truly and without exaggeration an amoral and soulless, profoundly corrupt and completely venal bastard.  His loathsome and narcissistic parading of his MS illness in this forum on multiple occasions in the attempt to elicit sympathy is only the fecal icing on the turd cake that is Leo Quislingasskiss.

Sun, 04/17/2011 - 15:38 | 1178335 Zero Govt
Zero Govt's picture

+1    Akak

cue next crony cut (crib) and paste article by Kockupalot in 3, 2, 1 ... .  . 

Sun, 04/17/2011 - 13:11 | 1177942 Leo Kolivakis
Leo Kolivakis's picture

Don't flatter yourselves. I refuse to respond to morons and choose to ignore you. It's amazing how easily I get under your skin. Keep slamming me, only shows how much power I have over you morons.

Sun, 04/17/2011 - 16:53 | 1178452 akak
akak's picture

It's amazing how easily I get under your skin.

To the extent which that is true, it is only due to your status here on ZeroHedge as an officially-sanctioned troll and lightning rod for justified outrage and anger.

You are such a joke, Leo --- you are just a tool and unwitting troll who does not even realize his actual position within this forum.

Leo, NOBODY in this forum has EVER stood up for or supported your pathetic and outrageous statist propaganda and Quisling-esque lies and calls for surrender to the corrupt elite.  You are nothing but a fool who either cannot hear, or who refuses to acknowledge, that everyone around you is alternately laughing at you and spitting on you.

Sun, 04/17/2011 - 14:02 | 1178089 topcallingtroll
topcallingtroll's picture

well Leo....you were born a hoser.  You can't help it.

However canada is not that badly run for a socialist politically correct paradise.  I just wouldn't want to live there.  I like carrying pistols and paying little taxes.

Canada is just having a good run because it is a commodity nation.  It has nothing to do with any greater intelligence or sophistication.  Genius is always and everywhere a rising market (whatever market that is).

Sun, 04/17/2011 - 13:17 | 1177961 web bot
web bot's picture

36 ignores on your other comments Leo...

You'll need to convince more that Mr. Akak and myself.

Sun, 04/17/2011 - 13:25 | 1177979 Leo Kolivakis
Leo Kolivakis's picture

That's where you are wrong, I don't need to convince anyone, especially the morons here. I couldn't care less about them. 

Sun, 04/17/2011 - 17:26 | 1178499 web bot
web bot's picture

Hey Leo,

It looks like Bloomberg needs someone to report live from Fukashima. Why don't you crawl over there and report live in front of Reactor 3?

You're an expert on everything... so why not?

Sun, 04/17/2011 - 16:18 | 1178410 Zero Govt
Zero Govt's picture

Kockupalotis   "...only shows how much power I have over you morons.."

the delusion of a crone/clown.... fuk you're funny ...alternat view is you're the whipping boy around here omega wolf

Sun, 04/17/2011 - 14:04 | 1178122 hardcleareye
hardcleareye's picture

Leo, you need to be a bit more precise in who you call a "morons here".... 

Can't we all just get along?

Sun, 04/17/2011 - 13:40 | 1178022 akak
akak's picture

It is obvious that you couldn't care less --- because you clearly care about nothing but the pennies in your pocket, you venal and blinkered bastard.  I have no qualms in damning you repeatedly in this forum, as you have more than willingly damned yourself with your vile, cowardly, damn-all-ethics admonitions of surrender to corrupt authority on numerous occasions here before me.  You, Leo, are evil in its ugliest and most tawdry form.

Sun, 04/17/2011 - 13:52 | 1178070 topcallingtroll
topcallingtroll's picture

Evil in it's most ugly and tawdry form?

That is a real accomplishment.

Surely you jest.  He aint that good.

Sun, 04/17/2011 - 14:38 | 1178220 akak
akak's picture

I say that because one can almost appreciate, in an abstract kind of way, the sheer brazen audacity and towering evil of the likes of a Hitler, Stalin, or Pol Pot, or even lesser but still considerable ponerists such as Pinochet, Cheney, Clinton (either one) or Madoff.  Leo Quislingasskiss, however, is just a lowly leech stuck to the asshole of those giants of evil ---- feeding off them, fully complicit in their crimes, totally sympathetic and dependent upon them, but only for the lowliest and most tawdry of reasons, with none of their pride, courage or fortitude.

Sat, 04/16/2011 - 19:06 | 1176662 s0lspot
s0lspot's picture

Funny, somehow karma payback struck both america and europe, each in their particular way (crappy funds Vs austerity) yet the bottom line is and has always been :

THERE IS NO FREE ADDED VALUE. ('xcept for the Bernanke, all hail his Fiatyness!)

Free money = vice = epic fail = today.

 

Those coppers wanted to make more ; they got it up their arse (for once). Frankly interest rates are irrational to me, i mean i understand them & why & how they're used but if you think about it for just 5 seconds, forgetting the whole part of human's role in the Big Theater, from a shall we say natural/cosmological/universal mind point of view, it makes no sense and goes against natural law. It is a sick mental construct.You can go back trading now, the 5 seconds have past.

But it still is a very weird concept, that of transmuting nothing into something.

Nothing is lost, nothing is created, everything tranforms.

Lavoisier.

Those who think humans to be Gods reigning over both the script and the Theater, actually creating the décor of the stage when it is really the opposite, believing to be able to somehow "forget" or "annonate" the basic laws of being conscious beings, the laws of nature and physics and the duality of the mind are, in my book, quite boring unimaginative individuals. And extremely dangerous ones. They are mentally sick, using their brains to ignore what bothers them and adore what rewards their egoes while ignoring all that is around them = massive epic fail ftw.

 

Sing with me !

 

"Money for nothing and the chicks for free !!!"

 

 If your ego needs more, then work more but always keep in mind it's only one half of your being behind it all. The other half doesnt require money and needs attention as well. Especially in these troubled times.

Sat, 04/16/2011 - 19:26 | 1176684 s0lspot
s0lspot's picture

Chubbar posted an excellent illustration of the insanity :

 

"On January 21, 2010, with its ruling in Citizens United v. Federal Election Commission, the Supreme Court ruled that corporations are persons, entitled by the U.S. Constitution to buy elections and run our government. Human beings are people; corporations are legal fictions."

Source : movetoamend.org

To sum up for the more "thicker" amongst the crowd :

 

Truth = Lies

Lies = Truth

 

The world's new crucifix.

 

The insanity.

Sat, 04/16/2011 - 17:14 | 1176496 Blanche DuBois
Blanche DuBois's picture

STELLLLLLLLLAAAAAAA!!! You got that right American Spirit! I left that shithole years ago and haven't looked back!

Sat, 04/16/2011 - 16:48 | 1176443 americanspirit
americanspirit's picture

Looks like you can rip off trained police officers many of whom have probably killed more than once in their life and all they do is whine about it. Not one of them - not one - has even tried to put a hole between Zinna's beady eyeballs. No wonder the sheeple whimper and go quietly into the night when the big bad banks take their home away - even the cops in this country go down without a fight.

Sat, 04/16/2011 - 16:35 | 1176419 Thorny Xi
Thorny Xi's picture

It's tiresome, the commentary here by folks who are two generations away from any real problems in the world, yakking on and on about their retirements, and whether it was better or worse before 1929.  If you're not sitting on $1,000,000 right. this. minute. in. cash. or. liquid. assets, no matter your age, then you are screwed, "retirement-wise."  Since you're not, why not figure out how you can be, and leave the comments to others?   

Sun, 04/17/2011 - 14:06 | 1178131 topcallingtroll
topcallingtroll's picture

fucking asshole selfish boomer.  Never before in history has a generation put it's children in such debt  The boomers will go down in history as the selfishest generation.  The rest of us will try to pick up the pieces and take care of the future and our descendents, no thanks to you selfish bastard boomers.

Sat, 04/16/2011 - 16:46 | 1176434 IQ 101
IQ 101's picture

When were you "Away from any real problems in your life" Grandpa?

Grew up when the takings were easy,did you?

Born around 1943-1959 perhaps?

Thanks for helping to screw up the greatest chance mankind has had since Eden.

Half wit.

Sun, 04/17/2011 - 14:07 | 1178123 topcallingtroll
topcallingtroll's picture

boy that is the truth.

 

The children of the greatest generation will go down in history as the selfishest generation.  There is no doubt about it. 

No generation ever before was willing to put their children in debt peonage to fund their own selfish needs.

We will attempt to take care of the children, in spite of all the debt you selfish bastards leave us, just so you can get you viagra cheaply.  You fucking asshole  late baby boomer.

Sat, 04/16/2011 - 17:29 | 1176521 Trillax
Trillax's picture

+1

Sat, 04/16/2011 - 15:06 | 1176273 IdioTsincracY
IdioTsincracY's picture

The average 401K has about $68,000 in it. Of course that will never cover expenses for 20yrs of retirement.
No that is an average figure. In reality only the few people making around or more than $200,000 are able to save meaningful amounts in their 401k. Indeed the median amount in $401k is $17,000 and that was when employers where matching. Well forget about that now.

"When you have this large discrepancy between the average and the median, you do not get a nice bell-shaped statistical graph but something more like an inverted bell-shape as the values skewed higher at the extremities of the values. In plain language, there are many people with high balances and many with very low balances and not too many in between.”

People talk a lot about individual investment in the market, which in theory sounds good. In practice the market, at least the current ultra-speculative version of it, is predicated on few people making money at the expense of a lot of people.

Sun, 04/17/2011 - 14:14 | 1178158 topcallingtroll
topcallingtroll's picture

It all depends on whether your investment life starts at the beginning of a boom or the beginning of a bust.

 

We will have shit for returns in the next twenty years unless you take really big risks, like international small cap.

I make above 200,000 per year and I can assure you with the taxes I pay and having to save to put two kids through college I don't have a million in the bank.

The kids come first though.  I don't want them in any debt post college and graduate or medical school.  Graduate school is the new college, and college is the new high school, a worthless diploma.   It's going to cost me about 800,000 total to get them through if current college inflation trends continue as they have over the last 30 years.

 

I can garden and hunt and fish and live off social security here in Arkansas if I have too.  If that is all I have left eventually.  Lot's of people do it.

Sat, 04/16/2011 - 14:32 | 1176190 Don Levit
Don Levit's picture

Leo:

Thanks for providing this very interesting and, unfortunately, bad news, for the public pension of Louisiana.

At least the golf course is a real asset.

Federal retirees are even in worse shape.

This is because their only real assets are the current dollars being paid by employees and the federal government.  The trust fund, excess contributions and interest, has been handled just like the SS trust fund  -  loaned to the Treasury to pay current expenses.

The federal retirees' liabilities are over $5 trillion, and are listed on the balance sheet along with debt held by the public.

I have reputable governmental links and excerpts for those who are interreted in this much-too-little discussed shortage.

Don Levit

Sat, 04/16/2011 - 13:46 | 1176080 PulauHantu29
PulauHantu29's picture

Sadly, people need to turn off the TV, put down People Magazine, and educate themselves. Save on your own...don't rely on the gubberment or your company's plan to do your work. It's great if they come through and pay you something...but don't rely on it. Read Kotlikoff's "Coming Generaltional Storm."

 

GL!

Sat, 04/16/2011 - 13:49 | 1176079 ebworthen
ebworthen's picture

 

When the only fear in people's hearts is a courtroom, this is what hapens.

As long as these black-hearted vermin have enough money, they can bribe and lawyer their way out of a jail cell.

This is true not only in this case but with the crisis of the past 3 years.

With no public justice - no tar and feathering, no mob beatings - no lamp post hangings of the malfeasant; we arrive at a much more uncivilized end where citizens and their lives, their souls, are bled out - while the wicked dine, drink, and dance with the devil.

 

Sat, 04/16/2011 - 17:30 | 1176522 Zero Govt
Zero Govt's picture

the legal system is a sham and an expensive joke... it doesn't work

Bring back tar and feathers, real natural social justice which is the one system that does work

Sat, 04/16/2011 - 21:22 | 1176920 ebworthen
ebworthen's picture

"natural social justice"

Exactly!

Sat, 04/16/2011 - 13:31 | 1176052 Agent 440
Agent 440's picture

What's the problem? As long as the money keeps flowing into the DNC, public pensions are working fine.

Sat, 04/16/2011 - 14:05 | 1176129 Sudden Debt
Sudden Debt's picture

True, everybody know how piramid systems work.

Why else would they've designed a piramid on the dollar bill?

 

Sat, 04/16/2011 - 13:25 | 1176044 Sudden Debt
Sudden Debt's picture

Luckely, the retired people will only give a fuck when the money is all gone.

For now they can still imagine that it won't happen to them but only to others, and that's just to bad for the others.

So if none of them protests, it means they don't really care about losing their pensions.

 

Sat, 04/16/2011 - 13:20 | 1176032 Rainman
Rainman's picture

I linked this several days ago after reading it on Bloom and hoped that Leo would feature it....thanks. The public pension time bombs continue to tick.

Sat, 04/16/2011 - 13:12 | 1176009 doggings
doggings's picture

Nice cut n paste Leo.

how do I get a job doing that for ZH?

Sat, 04/16/2011 - 13:13 | 1175995 AldousHuxley
AldousHuxley's picture

Pensions, 401ks, were promised to increase in value due to ponzinomics of ever increasing population. Not based much on real productivity increase or real wealth building. Just more youngsters working for few old men while government borrows to pay for welfare and warfare.

But due to medical improvements, there are too many old talkers, and too few doers. "top heavy" organizations are highly corrupt and inefficient.

 

Sat, 04/16/2011 - 12:51 | 1175971 apberusdisvet
apberusdisvet's picture

The banksters will take our 401 Ks or other after they crash the market and say see "we can give you 3% (non-inflation adjusted) guaran-fukin-teed"

The Gubmint (upon the direction of the FED) will either nationalize the PM mines in this country (and put the screws on Canada to do the same) or place an onerous tax on any bullion/coins purchases.

Be afraid, be very afraid.

Sat, 04/16/2011 - 13:12 | 1176012 JW n FL
JW n FL's picture

$14 Trillion Deficit http://goo.gl/FnxBZ PLUS! $15 Trillion in Loans to Rich Fuckers and Gaddafi! http://goo.gl/EXzal / http://goo.gl/d0DLP

$29 Trillion Dollars...


http://goo.gl/LiaTC United States has Off-Balance Sheet, Unrecorded Debt of 500% of GDP (Forbes)

I thinks Forbes was Lite! a few 100% on thier calculations! Oopsie!


which leades us to...

JP Morgan’s leader “Jamie Dimon” says 100’s Towns & Citys in U.S. Won’t ‘Make It’ Out of Debt Crisis “Bloomberg” http://goo.gl/HO8Xb

I would think that Cherry picking Towns and Citys prime real estate plus and allowing said towns and City's to default would allow for JP Morgan and the Like to steal some very nice property at rock bottom prices.. the public be damned! think of all that park space being converted into high density shopping / housing! WOW!

Privatize the World! Tax Break for the Rich (although I dont understand less than $0 dollars in Taxes? maybe carry forward and monetize the credits? NICE!!) and Austerity Measures for the Poor.. JP Morgan will print all the food stamps (doing God's Work) they can and as fast as they can!

This all ads up to green shoots! buy! Buy!! BUY!!! America is healing... more leverage for the brand names and Austerity 3.0 via lil Bush part Duex in technicolor! (Obama)

Privatize everything! and kill off all social programs to boot! this will go well, until it doesnt any more.

 

 

Sat, 04/16/2011 - 13:58 | 1176106 ebworthen
ebworthen's picture

 

You forgot Soylent Green!

They will tell us it is a biomass reactor but it will be anyone over 55 or children with "special needs" being turned into green colored nutrition bars.

It will be slavery to the hegemony of the establishment or violent revolt.

 

Do NOT follow this link or you will be banned from the site!