California’s Phantom $Billions: Letter To Legislature

“This is my latest e-mail to Wendy Gordon, Communications Deputy to California Assemblymember Anthony Portantino, and Robert Oakes, consultant to California Senator Carol Liu regarding the State of California’s Comprehensive Annual Financial Report (CAFR) and collective state CAFR’s from ~14,000 various government entities in the state:

Hi Wendy and Robert,
One of your constituents’ local papers, The Outlook, published a second letter on June 21 (copied below) requesting Senator Carol Liu and Assemblyperson Anthony Portantino’s public responses to CAFR data.

This is the beginning of our third week of our phone and e-mail conversations (a measure of our public audience here). I have received:

  • silence from Robert/Carol,
  • response from Wendy/Anthony that addressed a different issue (state-owned bank) while ignoring CAFR data. …

“I respectfully remind you that any competent citizen armed with this data of $600 billion in public cash and investments should make it as public as possible, demand official ethical response, and be politely persistent until the public good is served.

“If you doubt my intent, refute the data I’ve provided. If you can, I’ll publicly apologize, thank you, and correct my statements. But because I’m unaware of any refutation in the three years I’ve explored CAFR data, right now you’re sitting on $600 billion and doing nothing (and ignoring the state’s collective $8 trillion). …”

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