L.A. City Pension Commission Votes To REDUCE Projections From 8% to 7.5% (Mayor Is Relieved Will Be Over Five Year Period - Only $4.3 for NEXT Year!)

UPDATE to last night's LA TIMES article on: L.A. Mayor Villaraiogsa Becomes DESPERATE Under Possible Pension Crisis/Further Layoffs! LA Times Article, "Questions raised on how far Mayor Villar should go in "forceful swaying" of pension board, which State law prevents." MORE PROBLEMS FOR VILLARAIGOSA (LEGAL ONES?): 

10/25/11 4PM: Looks like it worked, for the most part. NO WAY could the pension commissioners go against the mayor's "Layoff-Armageddon" cries, if they reduced the L.A. City Pension fund expectations down from 8% to 7.5%. (Not like it matters anyway...in '09 they projected 8% return, but resulted in a -20% loss. (Only 28% off!) SO WHO REALLY CARES ABOUT THE PROJECTIONS, ANYWAY!) But you SURE DON'T WANNA BE THE ONE WHO CAUSES IT ALL...just in case. SO BOTTOM LINE: They voted to reduce the LACERS (pension fund) projections down to 7.5%, but over a five year period, instead of all, next year. The difference between $200 million, next year...and now, only $4.3 million...but it's SO BAD, it doesn't even matter. And if you live in L.A. City...make sure you aren't anywhere in the County by 2013! [MEANWHILE, what caused this whole pension mess...including the -20% loss (BILLIONS THAT ARE NOW BEING PAID OVER THE GENERAL FUND)? PENSION FRAUD! And ZD's blog posts on the topic are ON FIRE, considering they are YEARS OLD? WONDER WHO IS SUDDENLY READING??? (Subliminal man, #SEC!)