A long-awaited audit released Tuesday blames San Diego's pension fund debacle on mismanagement and illegal financial manipulations that recall the fiscal crises of Enron Corp. The 266-page report concludes that some former city and pension board officials violated state and federal laws in their ill-advised pursuit of short-term solutions for a pension fund deficit that now approaches $2 billion.
See "Report Compares San Diego Pension Fund Scandal to Enron", Richard Marosi, Los Angeles Times, August 8, 2006