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(610 WIOD)   Miami: "We have balanced our budget." SEC Investigation: "Yeah, about that"   (610wiod.com) divider line 25
    More: Florida, U.S. Securities and Exchange Commission, Miami, bond issues, balanced budgets  
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7951 clicks; posted to Main » on 24 Jul 2012 at 2:25 PM (2 years ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2012-07-24 02:31:26 PM  
About what?

/nuh huh!
 
2012-07-24 02:34:22 PM  
My 'first time' being 'f * I * R * S * T' and I screw up 'nuh uh'. Figures.
 
2012-07-24 02:34:45 PM  
Miami Mayor Tomás Regalado said he was relieved to have the probe coming to an end. "We keep paying for the sins of the past," Regalado said.

Sins of the past? It was five years ago, not five hundred! And if I'm reading correctly, he was City Commissioner when the scandal started. Any Florida farkers around to correct me?
 
2012-07-24 02:37:00 PM  
I was pretty sure Miami was in the ACC. Mind your own beeswax, SEC.
 
2012-07-24 02:46:08 PM  
The SEC won't let me be, let me be me, so let me see
 
2012-07-24 02:47:56 PM  
Got our own scam like this going in Seattle. The NBA is pushing for the City and County to issue bonds to build a new gigantisaur-type arena in an area that is now full of machine shops and manufacturing companies. An area that supports the employment of about 50,000 people full time will be replaced with a single facility that will employ about 400, part time. Probably at or around minimum wage.

The Mayor wants it, the local millionaires want it, the stooge basketball fans want it, and the city cannot support the finances at all on it. The traffic factors alone would cost the City about half a billion to mitigate. The only people urging any sort of caution on the subject are the folks who actually handle the number crunching for the State and County. Tax the people to pay for a playground for the wealthy and let the owners keep all the cash generated.

We're still paying off the Kingdome for chrissake.
 
2012-07-24 02:48:21 PM  
Is anyone going to get any jail time?

Then, this is all derp de derp....
 
2012-07-24 02:52:50 PM  
Just wait 'til the NCAA gets involved. They're not farking around.
 
2012-07-24 03:02:20 PM  
The SEC is obviously overstepping its bounds here. Miami is in the ACC.
 
2012-07-24 03:17:15 PM  
"Investigators concluded the city had defrauded bond buyers by glossing over problems with the budget, and forbade city officials from doing so again."

Wow, that sounds serious. They're forbidding the city from committing fraud again?

Did they strenuously object too?
 
2012-07-24 03:21:58 PM  

Deathfrogg: We're still paying off the Kingdome for chrissake.


Oh man, I remember living in Edmonds, WA during the 1990's. Almost Live had a hilarious song about that
(sung to the tune of "How do you solve a problem like Maria):

"How do you solve a problem like the King Dome?
How do you keep the tiles from falling down?
How do you fix an eyesore like the King Dome?

A ton of explosives?
A wrecking ball?
A plow?

Oh, 34 millions dollars is the price tag,
About the same as a King Dome beer on tap,
So why should the city pay,
A hundred thousand bucks a day,
When it's easier just to blow it off the map?

Oh, how do you solve a problem like the King Dome?
How do you fix a pile of concrete crap?"
 
2012-07-24 03:22:39 PM  
You'd think the southern capital of hookers and blow would know how to get the SEC to look the other way, then again it is Florida.
 
2012-07-24 03:28:21 PM  
i1171.photobucket.com
 
2012-07-24 03:37:18 PM  
Fining the taxpayers (essentially) will do nothing to stop the problem. Politicians need to go to jail.
 
2012-07-24 03:42:02 PM  

Deathfrogg: Got our own scam like this going in Seattle. The NBA is pushing for the City and County to issue bonds to build a new gigantisaur-type arena in an area that is now full of machine shops and manufacturing companies. An area that supports the employment of about 50,000 people full time will be replaced with a single facility that will employ about 400, part time. Probably at or around minimum wage.

The Mayor wants it, the local millionaires want it, the stooge basketball fans want it, and the city cannot support the finances at all on it. The traffic factors alone would cost the City about half a billion to mitigate. The only people urging any sort of caution on the subject are the folks who actually handle the number crunching for the State and County. Tax the people to pay for a playground for the wealthy and let the owners keep all the cash generated.

We're still paying off the Kingdome for chrissake.


Houston/Harris County is still paying off the damn Astrodome, as it sits there and rots.
 
2012-07-24 03:52:47 PM  
So if you're charged with securities fraud you can just write them a letter explaining how you didn't commit fraud? They don't haul you away in shackles? Or is that only for the little people?
 
2012-07-24 04:00:34 PM  

lilbjorn: Fining the taxpayers (essentially) will do nothing to stop the problem. Politicians need to go to jail.


The taxpayers need to bother to actually go down to the polling place and vote. And when they vote, be sure not to keep voting for the same old criminals.

But yes, I also agree that politicians get off way too easy most of the time... when they're not getting off in the bathroom of an airport.
 
2012-07-24 04:22:43 PM  

bsharitt: The SEC is obviously overstepping its bounds here. Miami is in the ACC.



I see my work is done here.



/ first thing I thought when I saw the headline.
// roll tide
 
2012-07-24 04:43:02 PM  
Fark the SEC. It's a thieving free-for-all on Wall Street, but they can't seem to even prosecute, let alone convict anyone. The SEC couldn't find their asses with a geiger counter and a barium enema.

There are only two possible conclusions; either they're retarded, or they're in cahoots. Your choice.
 
2012-07-24 04:43:56 PM  

YixilTesiphon: Deathfrogg: Got our own scam like this going in Seattle. The NBA is pushing for the City and County to issue bonds to build a new gigantisaur-type arena in an area that is now full of machine shops and manufacturing companies. An area that supports the employment of about 50,000 people full time will be replaced with a single facility that will employ about 400, part time. Probably at or around minimum wage.

The Mayor wants it, the local millionaires want it, the stooge basketball fans want it, and the city cannot support the finances at all on it. The traffic factors alone would cost the City about half a billion to mitigate. The only people urging any sort of caution on the subject are the folks who actually handle the number crunching for the State and County. Tax the people to pay for a playground for the wealthy and let the owners keep all the cash generated.

We're still paying off the Kingdome for chrissake.

Houston/Harris County is still paying off the damn Astrodome, as it sits there and rots.


They won't tear it down nor will they allow anything to happen with it. I'm all for the casino idea if Louisiana would stop lobbying the TX state government to keep us driving 100 miles to spend our money there.

Now the new Dynamo stadium is awesome! City paid only $27.75 million and the county paid only $7.75 million at a time when there's a hiring freeze for police officers and we can't balance our budget! We don't need more cops and city infrastructure; we need more stadiums!
 
2012-07-24 05:06:18 PM  
and this is surprising coming out of city built entirely from drug money? there are 10s of banks in down town miami and the 'financial district' that are solely surviving off blood money of 30 years ago. crooked to the core.
 
2012-07-24 07:46:48 PM  

UNAUTHORIZED FINGER: Fark the SEC. It's a thieving free-for-all on Wall Street, but they can't seem to even prosecute, let alone convict anyone. The SEC couldn't find their asses with a geiger counter and a barium enema.

There are only two possible conclusions; either they're retarded, or they're in cahoots. Your choice.


There's a third option:

Wall Street is in cahoots with the law makers, and the SEC can't put any one in jail because the way the laws are written, no laws were actually broken.
 
2012-07-24 07:59:57 PM  

Flab: UNAUTHORIZED FINGER: Fark the SEC. It's a thieving free-for-all on Wall Street, but they can't seem to even prosecute, let alone convict anyone. The SEC couldn't find their asses with a geiger counter and a barium enema.

There are only two possible conclusions; either they're retarded, or they're in cahoots. Your choice.

There's a third option:

Wall Street is in cahoots with the law makers, and the SEC can't put any one in jail because the way the laws are written, no laws were actually broken.


I think it may be all three. Any way you slice it, the system is broken. Everything seems to be trickling up. Hell, I want rich people to be rich. But not at my expense. They're supposed to be rich so they can pay me more. I want to be rich too. But I won't steal to do it. Stealing seems to be the only game in town, and the Sheriff is either incompetent, drunk and locked in his own cell, or profiting from the scam.
 
2012-07-24 11:56:36 PM  
You mean creative accounting and outright fraud aren't allowed anymore? That's not fair; you can't change the rules in the middle of the game.
 
2012-07-25 02:24:57 PM  

God Is My Co-Pirate: Miami Mayor Tomás Regalado said he was relieved to have the probe coming to an end. "We keep paying for the sins of the past," Regalado said.

Sins of the past? It was five years ago, not five hundred! And if I'm reading correctly, he was City Commissioner when the scandal started. Any Florida farkers around to correct me?


He sounds like the Cuban Slick Willy.
 
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