San Diego Pension Fraud

The San Diego Union Tribune reports:

A wide circle of San Diego officials, including former Mayor Dick Murphy and past and present City Council members, broke a string of laws meant to protect municipal pension and sewer systems and ensure accurate bond disclosures, according to a highly anticipated report released yesterday.

The $20.3 million report, guarded closely until it was made public at an unusually early council meeting, blamed San Diego's financial collapse on “reckless and wrongful” actions by top city staffers who covered up bad news for years when borrowing money on the bond market.

Eat your heart out Enron.