San Jose’s pension funds lost almost $1billion in the stock market crash; what about Santa Ana’s funds?

San Jose’s pension funds have lost almost $1 billion dollars since the stock market collapsed, according to the San Jose Mercury News.  Now the City of San Jose has to come up with money to replace those lost dollars, so that employee pensions and health care can be paid.

I wonder how much money the Santa Ana employee pension funds have lost?  Or the County of Orange pension funds?  How deep a hole are the public employee unions digging for us with their insatiable appetites for more benefits and higher pensions?

To make matters worse, San Jose’s pension funds performed worse than other, similar funds.

Who will bailout the taxpayers when we have to bail out these pension funds?  And will our city and county governments be able to govern when there is no money left?

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"Admin" is just editors Vern Nelson, Greg Diamond, or Ryan Cantor sharing something that they mostly didn't write themselves, but think you should see. Before December 2010, "Admin" may have been former blog owner Art Pedroza.