Fiscal Emergency & "The Bondage of Bonds": Exclusive Internet Video Preview (3 min)

Los Angeles, CA The Full Disclosure Network® is releasing a three minute video preview of a special DVD Collection of Videos examining the use of non-voter approved and voter approved government Bonds in California over the last decade. The collection is entitled “The Bondage of Bonds…..The Taxpayers Burden” featuring government officials and experts directly involved in the issuance, expenditure and oversight of billions in government indebtedness . (Watch preview)

STATE OF EMERGENCY: FISCAL CRISIS
The release of this new collection coincides with the announcement on Friday, December 14, 2007 by California Governor Arnold Schwarzenegger that he will declare a “fiscal emergency” in January 2008. In his announcement, Schwartzenneger pointed to a dramatic escalation in the budget deficit (40 % or $14 billion) over previous projections by economists just a few weeks ago. Associated Press reported that state spending has increased by 40% since Schwarznegger took office in 2004. And according to the Reason Foundation and California Debt Advisory Board, bonded indebtedness has dramatically increased over the last decade.

REVEALING HOW STATE & LOCAL GOVERNMENT SPENDS BOND $$ BILLIONS:
Videos on Bond issues in the Full Disclosure® Collection:
* Secret School Bonds Create Billions in Debt
* Mysterious School Financing Revealed
* Budget Buster Bond Defended
* Bond Brokers Bilk Taxpayers for Billions
* News Blackout On School Bond Vote
* Auditors Speak Out on Lack of Prosecution
* Voters Fooled by Bogus Bonds
* Bonds: Government’s Credit Card
Click here to watch 3 min video
Officials and experts appearing in the video collection:
* Senator Don Perata California Senate President Pro-Tem
* David Tokofsky, LAUSD Board Member
* Kathleen Connell, California State Controller (1995-2004)
* Don Mullinax, former Inspector General L.A. Unified School District
* B. Scott Minerd, CEO Guggenheim Partners, Asset Management
* Edwin Meese, III, Former U. S. Attorney General & Chief of Staff Governor Reagan
* Jon Coupal, President Howard Jarvis Taxpayers Association
* James Mc Nulty, Chairman of the Board, Parsons Corporation
* Dr. Adrian Moore, V.P. Research of the Reason Foundation
* Keith Richman, Former, Legislator & Pres. Calif. Foundation for Fiscal Responsibility
* Carl DeMaio, President Performance Institute
* Jerry Thornton, Inspector General Los Angeles Unified School District

Known as “the news behind the news” Full Disclosure Network® cable television programs are featured on 45 cable systems and the Internet since 1992 and produced by host Leslie Dutton and Producer T. J. Johnston. In 2002 the Full Disclosure® special series “L. A.’s War Against Terrorism” was recognized by the Academy of Television Arts & Sciences with a local Emmy Award for public affairs, informational series. Channels and airtimes can be found on the website at http://www.fulldisclosure.net/ . #####

Public Finance Experts Reveal Taxpayers Billed 100% Interest On Public Bonds

Los Angeles, CA -- According to public finance experts appearing in a new Full Disclosure Network® Video News Blog, the rate of interest on public bonds is 100% and there is alarming trend to issue more and more bonds, with the consent of the voters.

In this eleven minute Internet Video News Blog, (click here) hosted by Leslie Dutton, prominent public finance experts predict that California's $200-to $300 billion dollars in un-funded pension and healthcare benefits for public employees could be paid for with voter approved bonds and that the total cost, with interest would double the amount that voters are actually asked to approve on the ballot.

This development , the experts say, will have a major impact on the State and future generations. The revelations and predictions are now available for viewing on the Internet free, 24/7, on demand,as a public service of the Full Disclosure Network® and soon to be released to 45 Cable Television channels. Click here to watch

Appearing in the Video News Blog are:

• Keith Richman, M.D., President California Foundation for Fiscal Responsibility
• B. Scott Minerd, CEO Guggenheim Partners, Asset Management
• Dr. Adrian Moore, Vice President for Research, Reason Foundation
• Carl DeMaio, President Performance Institute
• Jack Ehnes, CEO CAL-STRS (Teachers Retirement System)

Here are a few of the points made in the video presentation:

• "Government is issuing more and more bonds to pay for important infrastructure projects such as dams, bridges, roads, etc. which should be paid for with current taxes. Instead the money is being spent for other things and our government is asking voters to approve debt, so they can keep on spending."


• "Each California household will pay $1200 to $1600 per year to cover the cost of pension and healthcare benefits for public employee retirees."


• "The un-funded liability for pensions and healthcare benefits for retired public employees in California is three times the current total outstanding debt, all the bonds."

Since 1992 the Full Disclosure Network® (FDN) programs have been billed as "the news behind the news" and produced by Emmy Award winning Host Leslie Dutton and T. J. Johnston. The FDN programs are featured on 45 cable systems and the Internet website at http://www.fulldisclosure.net/. In 2002 the Academy of Television Arts & Sciences presented a local public affairs Emmy Award to Leslie Dutton for the series L.A.'s WAR AGAINST TERRORISM. Channels and airtimes can be found on the website.

Toxic L.A. School Belmont Is Back On L A Cable Channel 36 TONIGHT Sunday & Monday

Los Angeles, CA. Due to popular demand and continuing revelations of methane gas and hydrogen sulfide on new development sites in Los Angeles, the Full Disclosure Network® is re-running the two-part series entitled, “Belmont: The Black Hole of School Construction” to be featured tonight on

• L. A. Cable Channel 36
• Sunday, July 29th Part-One at 8 p.m. Part-Two at 8:30 p.m.
• Monday; July 30th, Part One at 4 p.m. Part 2 at 4:30 p.m.

For Internet viewers an exclusive, free ten minute video on the toxic conditions at Belmont can be seen on “On Demand” 24/7, as a public service. Tonight's cable TV presentation features exclusive video footage of all the major players involved in the planning, development, financing and investigations of the half a billion dollar, notorious Belmont Learning Center, in the L. A. Unified School District, (LAUSD) that was built on top of the old Los Angeles oil field.

Belmont Players Featured In The Cable Series:
Steve Cooley , L.A. County District Attorney
David Cartwright, Sr. Partner O'Melveny & Myers, (former outside legal counsel to LAUSD)
Jim McConnell, LAUSD Cheif Facilities Executive
Anthony Patchett, Belmont Prosecutor, Special Asst. D.A. (ret)
Jerry Thornton, LAUSD Interim Inspector General
Don Mullinax, Inspector General L.A. Unified School District
Roger Carrick. Special Legal Counsel to Inspector General
Scott Wildman. Former Chairman CA Legislative Audit Committee
Dominic Shambra, Director Planning & Development LAUSD
Dr. Kaye Kilburn, USC Keck School of Medicine, Edgington Chair (transcript)
Ed Scott, Oil and Gas Expert, Licensed Environmental Assessor

Also offering their comments on the Belmont series are:
Michael Schneider, former President California Board of Accountancy
Tony Beall, Mayor Rancho Santa Margarita, Leader CUSD Recall Trustees Committee

Still incomplete the Belmont public school is now estimated to have cost almost a half a billion dollars after questionable remediation of toxic gases, seven years of investigations, lawsuits and controversy. In the early 2000's the Los Angeles news media ceased covering the Belmont Learning Center debacle, the LAUSD renamed the school "Vista Hermosa" and began plans to to redesign the project. The Full Disclosure Network® (FDN) began documenting the history of the project by interviewing each of the major players at a time when Belmont was only 60% complete and had an estimated cost of $175 million to $228 million at that point in 2003.

"Dead Issue": Most public officials and the news media had pronounced the project a “dead issue" and so did the mainstream media that had ceased following the day to day and on going planning for a new phase. In December of 2004 the Full Disclosure Network® was the only media to cover the demolition in a five minute video of the brand new and never occupied Belmont school buildings being destroyed.

Denied Access to the Site: When LAUSD officials denied FDN access to the site to videotape the demolition, an airplane was rented to capture the costly demolition on tape, noting the dozens of new and unused large airconditioning units were removed and taken by the contractors after having been placed on the roofs by costly helicopters.

A $132 million remediation for methane and hydrogen sulfide gases was planned but it is still uncertain if that has taken place and approval by Department of Toxic Substance Control, State of California was delayed for unknown reasons.

Facilities Chief McConnell Resigns: Following the release Full Disclosure Network's® 2005 series entitled “Belmont: The Black Hole of School Construction” LAUSD's Jim Mc Connell resigned. As Chief Executive of the Facilities Division Mc Connell was featured in the FDN series saying, “the days of Belmont are over”. However, mistaken he was, as the days of Belmont are still to this day, far from finished.

Revelations on the Belmont Project:

• What lawsuit blocked BB Bond funds from being used to build Belmont?
• Why was the site (an old oil field) purchased “as is”?
• How did LAUSD Raise the first $92 million to pay for Belmont?
• Why was construction on Belmont stopped when only 60% complete?
• Who stopped the construction?
• LAUSD had to change State laws to win approval for Belmont, why?

Full Disclosure network® programs are billed as “the news behind the news” for the past fifteen years. In 2002 the Academy of Television Arts and Sciences presented a local public affairs Emmy to host Leslie Dutton for the special series entitled “L. A.’s War Against Terrorism." Featured on over 45 cable systems and the Internet, worldwide on http://www.fulldisclosure.net/, Channels and air times are listed on the website