Mafia Style Corruption in the Santa Barbara County Pension Fund. In 2008 421 Million lost in 6 months and no mention to the Public until now WHY?

Mafia Style Corruption in the Santa Barbara County Pension Fund. In 2008 421 Million lost in 6 months and no mention to the Public until now WHY?




I will be the First to say that I miss under stood the 4 different views out on our current crisis in regards to the County Pension Fund. Now based on the Grand Jury report our Current Board of Supervisors had since January 1 of 2009 to digest the 421Million Dollar or 24% loss to our Santa Barbara County’s Pension fund. Yet it took two media stories and my postings to really get things exposed, why is that?



Now being the simple minded man that I am I have just a couple of concerns to add.

1- First off how can one tell what the term “benefits” entails with out a better break down or explanation of the past departmental budgets?

2- Do you wait the full six month to absorb a lost or was there a sell off point to protect the fund?

3- If Mortgage or Stock fraud is involved where are the legal actions to recoup our losses?

4- How can one pretend to balance any future County Budget with out first addressing and controlling the needs of the pension fund?

5- Why must Santa Barbara County’s Pension fund be the highest paying in the World?

6- How can any Budget or Pension fund be correct if we ca not be sure of proper collection or distribution of benefits from Santa Barbara County? During my review as I have been the only one to expose these facts to date. Past Probation departmental budgets allotted as high as 51% of benefits to salary dollars 100/51. Yet upon reviewing our Pubic Defenders and District Attorneys Budget for similar years the ratio was more in line to 12% to salaries 100/12. How can one account for proper collections or distribution of any kind based on that new math from out Trusted Public Officials?

7- Why does it appear our Grand jury’s report was suppressed from the public?



Now mind you I might have a total of ten hours in review, in the hands of people smarter than I what is really gong to come out? How is an additional 19 million dollars to next years budget really going to fix things? Pedro Nava can not clean up the corruption in Santa Barbara and he has no business running for California’s Attorney General.



As always Best Regards









Larry “ Magic” Mendoza