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(Voice of San Diego)   It's not the City Treasurer's fault that the city's investment fund collapsed, he didn't have a financial background when he got elected. So it's really the voters' fault   (voiceofsandiego.org) divider line
    More: Facepalm, Investment, Bond, Finance, city's treasury manager, risky city investments, Interest rate, city officials, interest rates  
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1597 clicks; posted to Politics » on 16 Aug 2022 at 8:55 PM (6 weeks ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook



27 Comments     (+0 »)
View Voting Results: Smartest and Funniest
 
2022-08-16 2:12:30 PM  
An election is a job interview, in a sane world it would be treated like one.
 
2022-08-16 3:30:51 PM  
Fark user imageView Full Size
 
2022-08-16 6:54:21 PM  
It didn't collapse, it just didn't do well.

That being said, yeah, jobs like that should require*some* minimum qualifications.
 
2022-08-16 8:57:37 PM  
memegenerator.netView Full Size


c.tenor.comView Full Size
 
2022-08-16 8:57:40 PM  
Uh, if I did that, they would lock me up.
 
2022-08-16 8:58:19 PM  

puffy999: It didn't collapse, it just didn't do well.

That being said, yeah, jobs like that should require*some* minimum qualifications.


BUT MUH FREEDUMBS
 
2022-08-16 8:59:29 PM  
That is the voters' fault, yeah. They got their choice. We should feel good about the results and be happy for their accomplishment.
 
2022-08-16 9:02:37 PM  
Guy wasn't qualified. It also seems like lots of other things are screwed up with the department's financial infrastructure.
 
2022-08-16 9:02:40 PM  
sole responsibility for this dude being an unqualified huckster lies with this dude
 
2022-08-16 9:04:43 PM  
"Bu...bu...but Matt Damon said crypto was the future of currency! THE FUTURE!!"
 
2022-08-16 9:06:10 PM  

AlgaeRancher: An election is a job interview, in a sane world it would be treated like one.


Pennsylvania and Georgia Senate Voters, we're watching you!
 
2022-08-16 9:07:18 PM  
I'm curious where the political $ came from.

If *nothing* else we need to fund a study which compares local election funding to nobody candidates before and after Citizens United.
 
2022-08-16 9:07:21 PM  

puffy999: It didn't collapse, it just didn't do well.

That being said, yeah, jobs like that should require*some* minimum qualifications.


The Nobel (equivalent) Econ Prize went to the discovery that nobody can foresee the future and that the best you can rationally expect from investing money is to do as well as the general economy. Hence the overwhelming amount of money in low/no fee index funds.
 
2022-08-16 9:09:58 PM  
well, you can get elected to the school board with no educational background, or kids. or, get elected sheriff and know nothing of law enforcement. or, president, with no public administration knowledge whatsoever.
 
2022-08-16 9:14:05 PM  
 
2022-08-16 9:17:50 PM  

Biff_Steel: well, you can get elected to the school board with no educational background, or kids. or, get elected sheriff and know nothing of law enforcement. or, president, with no public administration knowledge whatsoever.


Ah yes, the American Dream of exceptionalism and unqualified success.
*Hork*
 
2022-08-16 9:19:57 PM  
farking north county
 
2022-08-16 9:22:47 PM  

Bennie Crabtree: That is the voters' fault, yeah. They got their choice. We should feel good about the results and be happy for their accomplishment.


He ran unopposed, so that's not on the voters. What is on the voters is a combination of neglecting to set requirements for the position since 2002 and rejecting a proposal the same year he was elected to convert the position from elected to employee.

You know, the kinds of exciting stuff that really turns out the vote. But they're called "guardrails" for a reason, and the overwhelming sentiment nationwide has been to rip them out to allow morons into office out of spite for the eggheads.
 
2022-08-16 9:30:26 PM  

gyruss: Bennie Crabtree: That is the voters' fault, yeah. They got their choice. We should feel good about the results and be happy for their accomplishment.

He ran unopposed, so that's not on the voters. What is on the voters is a combination of neglecting to set requirements for the position since 2002 and rejecting a proposal the same year he was elected to convert the position from elected to employee.

You know, the kinds of exciting stuff that really turns out the vote. But they're called "guardrails" for a reason, and the overwhelming sentiment nationwide has been to rip them out to allow morons into office out of spite for the eggheads.


I think you're going too far by saying his unopposed run was not the fault of the voters. There has to be at elast one mom who is a responsible parent, and knew that as a duty to her family, the maintenance of basic civil engineering and household upkeep meant she had to oppose this unqualified OH WAIT NO THERE WASN'T. I WONDER WHY. OH RIGHT, EVERY SINGLE VOTER CHOSE TO LET HIM RUN UNOPPOSED.

And yeah, I am saying every parent there is a Bad Parent.
 
2022-08-16 9:33:39 PM  

Bennie Crabtree: gyruss: Bennie Crabtree: That is the voters' fault, yeah. They got their choice. We should feel good about the results and be happy for their accomplishment.

He ran unopposed, so that's not on the voters. What is on the voters is a combination of neglecting to set requirements for the position since 2002 and rejecting a proposal the same year he was elected to convert the position from elected to employee.

You know, the kinds of exciting stuff that really turns out the vote. But they're called "guardrails" for a reason, and the overwhelming sentiment nationwide has been to rip them out to allow morons into office out of spite for the eggheads.

I think you're going too far by saying his unopposed run was not the fault of the voters. There has to be at elast one mom who is a responsible parent, and knew that as a duty to her family, the maintenance of basic civil engineering and household upkeep meant she had to oppose this unqualified OH WAIT NO THERE WASN'T. I WONDER WHY. OH RIGHT, EVERY SINGLE VOTER CHOSE TO LET HIM RUN UNOPPOSED.

And yeah, I am saying every parent there is a Bad Parent.


FWIW he ran unopposed last time. The first time he was elected over the incumbent.
 
2022-08-16 9:38:54 PM  
Not sure how many of you RTFA (well it's fark so)

Anyways. The city had all its principal safe and sound. The only difference is that instead of making a few million dollars it made a little fewer million dollars.

That's not remotely as terrible as the headline makes it sound.
 
2022-08-16 9:39:41 PM  
This happened in Oceanside, so I'm guessing Smurf is behind it somehow.
 
2022-08-16 9:53:33 PM  

jaivirtualcard: Not sure how many of you RTFA (well it's fark so)

Anyways. The city had all its principal safe and sound. The only difference is that instead of making a few million dollars it made a little fewer million dollars.

That's not remotely as terrible as the headline makes it sound.


isn't it... pretty terrible that an unqualified huckster was even near the check book?... regardless of how much or little $$ was affected...
 
2022-08-16 9:59:58 PM  
I like how halfway through they article they explain that that city out performed other cities in the area they just didn't make as much money as they did the year before $7.5 million vs $4.7 million...that's what they made. They're claiming the treasurer lost the difference, which isn't true it's just that interest rates plummeted during the pandemic and the investment they chose was dependent on those higher rates.

Not sure having an economist in there would have been any better.
 
2022-08-16 11:48:57 PM  

yakmans_dad: puffy999: It didn't collapse, it just didn't do well.

That being said, yeah, jobs like that should require*some* minimum qualifications.

The Nobel (equivalent) Econ Prize went to the discovery that nobody can foresee the future and that the best you can rationally expect from investing money is to do as well as the general economy. Hence the overwhelming amount of money in low/no fee index funds.


That Nobel prize winner apparently didn't realize that many people do in fact predict the future with high degrees of accuracy... for some reason those people are primarily members of congress and people incredibly close to the trades they make...it's like they have some sort of crystal ball which provides information of some sort that gives them an inside view on the trades they make...

Anyways, their ability to predict the future is a complete mystery, I completely understand why the Nobel prize winner overlooked it since there is seemingly no rhyme or reason behind it.
 
2022-08-17 12:39:55 AM  
I don't know about anyone else, but the worst burn I can see a columnist use in an article is "(sic)".
 
2022-08-17 11:32:51 AM  
Technically correct.

The best kind of correct.
 
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