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JP Morgan and Governor Bown

Original post made by Nomad on May 13, 2012

If JP Morgan execs are going to resign over a $2B trading loss, then why isn't Governor Brown and his Finance Director resigning over a $16 B budget loss?

Comments (5)

Posted by Stacey, a resident of Amberwood/Wood Meadows
on May 13, 2012 at 9:13 pm

Stacey is a registered user.


Aside from the obvious differences in control over risk management between CA government and JP Morgan, did you happen read today's Borenstein? Brown needs to walk his talk about pension reform rather than kick the can down the road again. If he doesn't, voters are going to turn down the tax initiatives.

Posted by A Neighbor, a resident of Another Pleasanton neighborhood
on May 13, 2012 at 9:21 pm

This has got to be the lamest question posed here on PW in a long time. Surely, Nomad, you have no insight into the impossible job that Brown knowingly assumed as governor, on your behalf as a resident of the state of California, to turn the budgetary tide. What he has done to date is nothing less than phenomenal. What have you done recently to compare?

Posted by Stacey, a resident of Amberwood/Wood Meadows
on May 13, 2012 at 9:23 pm

Stacey is a registered user.

There's not much incentive being given to taxpayers to want to increase taxes yet again on themselves. No one wants to invest in California's status quo.

And, it will be as Borenstein says, an ugly initiative will get put on the ballot if Brown doesn't pursue his pension reform plan because that's what usually happens in California. I hope Brown isn't just waiting until that point to place his reform plan on the ballot as a competing initiative.

Posted by Stacey, a resident of Amberwood/Wood Meadows
on May 13, 2012 at 9:27 pm

Stacey is a registered user.

I have to agree somewhat with A Neighbor. I voted for Brown because his campaign was the most sensible and his depth of experience made the most sense in guiding California during this time. I don't want to see him resign. I just wish for more follow-through.

Posted by Patriot, a resident of Another Pleasanton neighborhood
on May 13, 2012 at 9:56 pm

A slightly less ridiculous but more apt comparison would have could have been made had J. P. Morgan CEO Jamie Dimon resigned, but he hasn't. I think Stacey and A Neighbor have also raised valid points.

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