I have always voted NO on bond measures. Use the money you already have! Might this have anything to do with the federal government pulling back on grant money? I could see supporters of this blaming the federal government. I sure wish more people did their research before voting for all this garbage.
Thank you Mr.Fenkner, for exposing Prop 38 for whatever it really is: A state-funded credit card for fundraising advocates, under the appearance of medical cures.
Most people or politicians have no concept of how big one billion is.
They just look a $8.4 billion divided by 31 million Adults in CA, and viola!
It's only $280 per person. What is the big deal? It is obscene because half of it will go to support fundraising committee members. It contributes toward their salaries and supports their vacation plans.
How big is one billion? Counting one digit per second, 16 hours a day, it would take 47.5 years to count to just one billion.
399 years to count to 8.4 billion.
BIG number. But hey, it's only $280 per person. 😆 🤣
Let's be real half this money is going to go to UCLA to support their underfunded $12.8 billion annual budget. They receive $990 million annually from student tuition's, but that only represents about 8% of UCLA's massive, small country operations.
The majority of UCLA's overall revenue (59%) is generated by its massive medical enterprise and health system operations.
Does anyone find it interesting that when I was applying for NIH grants the intellectual property as a result of public funding was and is "Public Domain." No one would be entitled to claim the patents or knowledge as their own.
"Spending millions to steer more than $4 billion in grants to one’s institute is a novel use of the California initiative process."
Uhhhhh does that mean any intellectual property belongs to that one institute or businesses that are a spin off of that entity???
Think the above is far fetched? Just look at UCSB who demand a piece of the pie for companies that start up as a result of your PUBLIC MONEY teaching grad students.
Is this another High Speed Rail Project that will spend, spend and spend our tax dollars with zero results. (reported the HSR has now spent $200 million without a single track laid)
Did yo see the list of Clll ??? If you did not go read it. (are Gary Michelson, Meyer Luskin, Eric Esrailian, Arie Belldegrun, Michael Milken, and Sean Parker). Will this company become a social influencer every election time? What's to stop them? The FPP process is a joke. When a complaint is not answered filing the same complaint with the Attorney General and Gov. Newsom with a documented charges against insider elected Democrats gets you zippo.
"Private capital already funds much of this important work," Yep and there are North Am. business types who hand out Hundreds of Millions annually.
But as the author states this is payola (my wording). It is pay for play to make sure the ongoing $Billions in debt by the State of Calif. to make sure the DSA and other factions of the Left are kept in line.
Prop. 38 it falls right in line with out of control spending that has been Sacramento for years.
More bonds = more debt for a debt-ridden state, and as Mr. Fenkner points out in exquisite detail, with likely minimal taxpayer benefit but great benefit to UCLA and the sponsors of the proposition. As an addendum to Mr. Watt's comment regarding how enormous a sum $1 billion is: One billion one dollar bills laid end-to-end would encircle the earth (24,901 miles) nearly 4 times! As I've stated previously, the electorate needs to WAKE UP!
You think this is only $8 Billion?? You really didn't pay attention in maths, did you? 🤦♂️😂
"About half the proposed Prop 38 proceeds, more than $4 billion, is effectively reserved for a single UCLA-affiliated nonprofit called the California Institute for Immunology and Immunotherapy, or CIII."
Well, at least we get a dead defunct shopping mall out of the deal! That's gotta be worth something! (It's not)
We're getting a dead abandoned shopping mall for our money, so we got that going for us, which is nice 🤦♂️😂
Prop 38 never names who gets the $4.2 billion. It just describes the qualifications until only one address is left — a dead mall on Pico with twelve movie screens still in it.
REQUIREMENTS
Must study immunology
Must have been a nonprofit before 2025
* Must be affiliated with a UC campus Must own or lease a building of at least 200,000 sq. ft.
* Must already have $250 million in donations
* Must include two gifts of $50 million+
* One gift for vaccines
* One gift for microbiomes
I know the Democrat zombies of California are going to pass this, that's not really in question here. It's just so stupid and hard to watch . You know the thing about zombies is they are super slow and super dumb...you could just say "nope!" And step to the side? Oh well...it was a nice thought 🧟♀️ 🧟♂️
Let's just yell at the movie screen and watch our protagonists walk into the slowly advancing zombie horde 🤦♂️ it's so suspenseful
Im a retired dietitian and after practicing in hospitals, hospice, home health, clinics, prisons, wellness centers, fitness centers for decades, I saw America's healh "care" system (or lack there of) NOT help ppl. I also taught university nutrition culture, nutrition and aging, and supervised students' research projects. Our health "care" system is a disease for profit industry owned by corporate elite where money is stolen from "We The Ppl", diseases created, and "cures" formulated to just barely keep ppl alive so to bill insurance companies. Advanced healing technologies are available but hidden from the public and or not covered by insurance. I used unconvential treatments (pay out of pocket) to cure cancer and osteo arthritis and to avoid the death spiral caused by conventional tests and treatments. STOP supporting the cabals lies and funding their cartels! MEDBEDS are real but "not available" yet!!!
Spend, spend, spend…borrow, borrow, borrow. Tax, tax, tax. End up with nothing — like the train to nowhere. How about cutting government spending to pay for these pipe dreams? Will we ever stop this insanity or must collapse come first?
Financier Michael Milken Is Indicted for Racketeering and Fraud
Michael Milken, a prominent financier known as the "junk-bond king," was indicted in 1989 under the Racketeer Influenced and Corrupt Organizations (RICO) Act for numerous charges including racketeering, fraud, insider trading, and tax evasion. Milken’s innovative approach to finance involved utilizing junk bonds—high-yield, high-risk securities associated with companies lacking solid credit histories—to raise capital. This strategy led to his immense wealth and significant influence on Wall Street during the 1980s, changing the landscape of corporate finance and enabling leveraged buyouts.
However, his success drew the scrutiny of regulators, culminating in a federal investigation prompted by the testimony of fellow financier Ivan Boesky. Milken's indictment was notable as it marked the first application of the RICO Act against an individual not connected to organized crime. Despite maintaining his innocence, he eventually pleaded guilty to several charges in 1990, resulting in a ten-year prison sentence, substantial fines, and a lifetime ban from the securities industry. After serving a fraction of his sentence, he was released in 1993. Milken's legacy remains complex, embodying both the allure and perils of financial innovation and excess during a transformative era in American capitalism.
Authored By: Heiney, Bernadette Zbicki 1 of 4
Authored By:
Heiney, Bernadette Zbicki
Published In: 2022 2 of 4
Published In:
2022
Related Topics:
Criminal Investigation
;
Interest Rates
;
Junk bonds
;
Pulitzer Prize
3 of 4
Related Articles:
Global elite heads to Milken conference in California—aka 'Davos West'—amid bank failures, broken mark
I have always voted NO on bond measures. Use the money you already have! Might this have anything to do with the federal government pulling back on grant money? I could see supporters of this blaming the federal government. I sure wish more people did their research before voting for all this garbage.
If its such a great idea, why can't they get the uber-rich of Hollywood or Silicon Valley to fund it?
They are….with taxpayer dollars
But it must create lots of government jobs, i.e., more union members, more government control, more opportunities for new NGO’s.
Stick with private funding!!!!!
Thank you Mr.Fenkner, for exposing Prop 38 for whatever it really is: A state-funded credit card for fundraising advocates, under the appearance of medical cures.
Most people or politicians have no concept of how big one billion is.
They just look a $8.4 billion divided by 31 million Adults in CA, and viola!
It's only $280 per person. What is the big deal? It is obscene because half of it will go to support fundraising committee members. It contributes toward their salaries and supports their vacation plans.
How big is one billion? Counting one digit per second, 16 hours a day, it would take 47.5 years to count to just one billion.
399 years to count to 8.4 billion.
BIG number. But hey, it's only $280 per person. 😆 🤣
Let's be real half this money is going to go to UCLA to support their underfunded $12.8 billion annual budget. They receive $990 million annually from student tuition's, but that only represents about 8% of UCLA's massive, small country operations.
The majority of UCLA's overall revenue (59%) is generated by its massive medical enterprise and health system operations.
Yes, the Bruin 🐻 is getting hungry.
Stop stealing from us!!!!!
Does anyone find it interesting that when I was applying for NIH grants the intellectual property as a result of public funding was and is "Public Domain." No one would be entitled to claim the patents or knowledge as their own.
"Spending millions to steer more than $4 billion in grants to one’s institute is a novel use of the California initiative process."
Uhhhhh does that mean any intellectual property belongs to that one institute or businesses that are a spin off of that entity???
Think the above is far fetched? Just look at UCSB who demand a piece of the pie for companies that start up as a result of your PUBLIC MONEY teaching grad students.
Is this another High Speed Rail Project that will spend, spend and spend our tax dollars with zero results. (reported the HSR has now spent $200 million without a single track laid)
Did yo see the list of Clll ??? If you did not go read it. (are Gary Michelson, Meyer Luskin, Eric Esrailian, Arie Belldegrun, Michael Milken, and Sean Parker). Will this company become a social influencer every election time? What's to stop them? The FPP process is a joke. When a complaint is not answered filing the same complaint with the Attorney General and Gov. Newsom with a documented charges against insider elected Democrats gets you zippo.
"Private capital already funds much of this important work," Yep and there are North Am. business types who hand out Hundreds of Millions annually.
But as the author states this is payola (my wording). It is pay for play to make sure the ongoing $Billions in debt by the State of Calif. to make sure the DSA and other factions of the Left are kept in line.
Prop. 38 it falls right in line with out of control spending that has been Sacramento for years.
More bonds = more debt for a debt-ridden state, and as Mr. Fenkner points out in exquisite detail, with likely minimal taxpayer benefit but great benefit to UCLA and the sponsors of the proposition. As an addendum to Mr. Watt's comment regarding how enormous a sum $1 billion is: One billion one dollar bills laid end-to-end would encircle the earth (24,901 miles) nearly 4 times! As I've stated previously, the electorate needs to WAKE UP!
I'll be voting NO
VOTE no no no no
Vote NO
LOL, seriously? Michael Milken?? You're serious?
We're going to fall for this again??
You think this is only $8 Billion?? You really didn't pay attention in maths, did you? 🤦♂️😂
"About half the proposed Prop 38 proceeds, more than $4 billion, is effectively reserved for a single UCLA-affiliated nonprofit called the California Institute for Immunology and Immunotherapy, or CIII."
Well, at least we get a dead defunct shopping mall out of the deal! That's gotta be worth something! (It's not)
We're getting a dead abandoned shopping mall for our money, so we got that going for us, which is nice 🤦♂️😂
Prop 38 never names who gets the $4.2 billion. It just describes the qualifications until only one address is left — a dead mall on Pico with twelve movie screens still in it.
REQUIREMENTS
Must study immunology
Must have been a nonprofit before 2025
* Must be affiliated with a UC campus Must own or lease a building of at least 200,000 sq. ft.
* Must already have $250 million in donations
* Must include two gifts of $50 million+
* One gift for vaccines
* One gift for microbiomes
I know the Democrat zombies of California are going to pass this, that's not really in question here. It's just so stupid and hard to watch . You know the thing about zombies is they are super slow and super dumb...you could just say "nope!" And step to the side? Oh well...it was a nice thought 🧟♀️ 🧟♂️
Let's just yell at the movie screen and watch our protagonists walk into the slowly advancing zombie horde 🤦♂️ it's so suspenseful
Im a retired dietitian and after practicing in hospitals, hospice, home health, clinics, prisons, wellness centers, fitness centers for decades, I saw America's healh "care" system (or lack there of) NOT help ppl. I also taught university nutrition culture, nutrition and aging, and supervised students' research projects. Our health "care" system is a disease for profit industry owned by corporate elite where money is stolen from "We The Ppl", diseases created, and "cures" formulated to just barely keep ppl alive so to bill insurance companies. Advanced healing technologies are available but hidden from the public and or not covered by insurance. I used unconvential treatments (pay out of pocket) to cure cancer and osteo arthritis and to avoid the death spiral caused by conventional tests and treatments. STOP supporting the cabals lies and funding their cartels! MEDBEDS are real but "not available" yet!!!
NO the government has proven to be stealing millions of dollars and not performing!
Spend, spend, spend…borrow, borrow, borrow. Tax, tax, tax. End up with nothing — like the train to nowhere. How about cutting government spending to pay for these pipe dreams? Will we ever stop this insanity or must collapse come first?
Yes, Michael Milken went to prison after pleading guilty to felony counts including securities fraud. [1] (https://www.investopedia.com/terms/m/michaelmilken.asp), [2] (https://www.washingtonpost.com/business/2020/02/18/michael-milken-pardon/)Case Details and SentencingGuilty Plea: In April 1990, Milken pleaded guilty to six counts of violating federal securities and tax laws (including securities fraud, mail fraud, and aiding in filing a false tax return). [1] (https://www.ebsco.com/research-starters/law/financier-michael-milken-indicted-racketeering-and-fraud), [2] (https://www.washingtonpost.com/business/2020/02/18/michael-milken-pardon/)Prison Term: U.S. District Judge Kimba Wood sentenced Milken to 10 years in prison in November 1990. [1] (https://scholar.lib.vt.edu/VA-news/ROA-Times/issues/1991/rt9103/910305/03050069.htm), [2] (https://www.latimes.com/archives/la-xpm-1990-11-22-mn-6938-story.html)Time Served: He served roughly 22 months (less than two years) at a minimum-security camp in Pleasanton, California, before his release to a halfway house in January 1993. His sentence was reduced due to cooperation with investigators and good behavior. [1] (https://en.wikipedia.org/wiki/Michael_Milken), [2] (https://streetlightnews.org/factchecking-michael-milkens-pardon/), [3] (https://www.nytimes.com/1993/01/05/business/company-news-milken-out-of-jail-after-22-months.html), [4] (https://www.ebsco.com/research-starters/law/financier-michael-milken-indicted-racketeering-and-fraud), [5] (https://www.washingtonpost.com/business/2020/02/18/michael-milken-pardon/)Fines and Penalties: He was ordered to pay a $600 million fine and restitution fund, and received a permanent ban from the securities industry. [1] (https://streetlightnews.org/factchecking-michael-milkens-pardon/), [2] (https://en.wikipedia.org/wiki/Michael_Milken), [3] (https://www.ebsco.com/research-starters/law/financier-michael-milken-indicted-racketeering-and-fraud)Presidential Pardon: President Donald Trump granted Milken a full pardon in February 2020, though the SEC lifetime industry ban remained in place. [1] (https://www.washingtonpost.com/business/2020/02/18/michael-milken-pardon/), [2] (https://en.wikipedia.org/wiki/Michael_Milken), [3] (https://www.investopedia.com/terms/m/michaelmilken.asp)Would you like to know more about his role in pioneering the high-yield (junk) bond market or his subsequent work as a philanthropist?
why would anyone trust anything he is involved in.
Financier Michael Milken Is Indicted for Racketeering and Fraud
Michael Milken, a prominent financier known as the "junk-bond king," was indicted in 1989 under the Racketeer Influenced and Corrupt Organizations (RICO) Act for numerous charges including racketeering, fraud, insider trading, and tax evasion. Milken’s innovative approach to finance involved utilizing junk bonds—high-yield, high-risk securities associated with companies lacking solid credit histories—to raise capital. This strategy led to his immense wealth and significant influence on Wall Street during the 1980s, changing the landscape of corporate finance and enabling leveraged buyouts.
However, his success drew the scrutiny of regulators, culminating in a federal investigation prompted by the testimony of fellow financier Ivan Boesky. Milken's indictment was notable as it marked the first application of the RICO Act against an individual not connected to organized crime. Despite maintaining his innocence, he eventually pleaded guilty to several charges in 1990, resulting in a ten-year prison sentence, substantial fines, and a lifetime ban from the securities industry. After serving a fraction of his sentence, he was released in 1993. Milken's legacy remains complex, embodying both the allure and perils of financial innovation and excess during a transformative era in American capitalism.
Authored By: Heiney, Bernadette Zbicki 1 of 4
Authored By:
Heiney, Bernadette Zbicki
Published In: 2022 2 of 4
Published In:
2022
Related Topics:
Criminal Investigation
;
Interest Rates
;
Junk bonds
;
Pulitzer Prize
3 of 4
Related Articles:
Global elite heads to Milken conference in California—aka 'Davos West'—amid bank failures, broken mark