Friday, July 13, 2012

Galbraith's Bezel...

Making the rounds in large banks, and even sunny San Bernardino...

July 13 (Bloomberg) -- Law enforcement officials are
investigating possible crimes in San Bernardino’s city
government, which almost drained special funds to prop up its
     The near-bankrupt state of the community of 209,000 east of
Los Angeles came to light when a new finance director discovered
that previous officials shifted money for workers-compensation
and liability insurance to the general fund, said Andrea Travis-
Miller, interim city manager.
     “The city has relied on a whole variety of one-time
measures to balance its budget,” Travis-Miller, who began her
job in May, said yesterday. “There have been transfers to the
general fund with the expectation that they would be repaid.
That became difficult.”

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