News
County watchdog recommends dissolution of sheriff’s Risk Management Bureau
The Los Angeles County Sheriff’s Department is facing scrutiny from oversight officials who are urging the disbandment of the sheriff’s Risk Management Bureau. The bureau, comprised of 83 personnel, has come under fire for allegedly silencing whistleblowers, protecting favored employees, and downplaying misconduct within the upper ranks of the department. The County Office of Inspector General released a scathing report on February 20, describing the bureau as “flawed” and “inappropriately aggressive” under both the prior and current sheriff’s administrations.
One alarming instance highlighted in the report involved the bureau’s retaliation against a deputy who blew the whistle on misconduct within the department. The bureau falsely reported the deputy to state oversight authorities for dishonesty, a charge that could have permanently tarnished his law enforcement career. Additionally, the report found that the bureau failed to report allegations of deputy gang membership to state authorities, even after a deputy named individuals involved in court.
Former Sheriff Alex Villanueva and several top aides were also scrutinized in the report for misleading the public about a photo-sharing scandal. Despite Villanueva and his aides being caught on tape lying to a reporter, the department failed to launch an investigation into the matter. The report condemned the bureau’s actions, stating that it corrupts the county’s efforts to improve government conduct and misuses government resources for the protection of the Sheriff’s Department.
In response to the report, Sheriff Robert Luna criticized the recommendation to disband the bureau, calling the report “speculative, unfair and irresponsible.” Luna defended the department’s efforts to mitigate risk and reduce liability, pointing out that under his administration, the department reported over 3,600 instances of serious misconduct to state authorities overseeing law enforcement certification.
Despite the calls for disbandment, the Sheriff’s Department announced that it would not be following the recommendation. The bureau’s captain has been temporarily reassigned, not due to work performance, according to officials within the department.
The report also shed light on concerns regarding the bureau’s handling of cases referred to state authorities for decertification under a new law, SB 2, which took effect in 2023. The report detailed instances where the bureau aggressively pursued cases against whistleblowers while neglecting to report serious allegations against high-ranking officials and other department members. Delays in reporting incidents and inaccuracies in statements submitted to state authorities were also outlined in the report.
One notable case mentioned in the report was that of a public radio reporter, Josie Huang, who was violently arrested while covering a protest in 2020. The Sheriff’s Department initially accused Huang of failing to identify herself as a reporter and lacking press credentials at the time of her arrest. Subsequent investigations revealed that Huang was wearing media identification and was wrongly charged with obstruction, resulting in a $700,000 legal settlement.
Overall, the report paints a troubling picture of the Risk Management Bureau and raises concerns about its practices and decision-making processes. The sheriff’s response to the report indicates a shift in relations between the department and oversight officials, highlighting the need for greater accountability and transparency within the Sheriff’s Department.
News
Is now the right time to invest in gold as prices have cooled?
The price of gold has climbed to record highs recently and has remained strong through much of April. And, that growth continued until the precious metal traded at around $2,390 per ounce on April 19, 2024. But since, growth in the price of the precious metal has cooled, with gold’s price now hovering around $2,300 per ounce.
This lull in gold’s price may represent an investment opportunity.
In general, investing is centered around buying assets when prices are low and selling them when prices are high – generating a profit on the difference between the two. So, considering the declines in gold’s price over the past few days, now may be the time to make your investment. But is buying gold during this lull in prices really a good idea?
Compare your gold investment options among leading brokers now.
Gold prices have cooled. Should you buy in now?
With gold’s price down from recent highs, you may be wondering if now is the right time to buy in. There are several reasons the dip in gold’s price may represent an opportunity to buy. Here are some of the biggest:
Prices may rise again
If looking at a gold price chart shows anything for certain, it shows that changes in the overall growth of the medal come in fits and spurts. Periods of price growth are typically followed by periods of declines and vice versa.
But with inflation rising in recent months – and with gold’s reputation as a safe-haven asset that can hedge against inflation – it only makes sense that the price of the precious metal will eventually start to head up again in the future. While attempting to time that directional change may be tricky, buying the precious metal while the price is down gives you the opportunity to take advantage of any upward movement that may be ahead.
Add gold to your portfolio now before prices have a chance to rise.
You may be able to make a quick profit
Gold isn’t known as an asset in which you can earn a quick return, but in today’s market, that may be the case. Don’t forget that in January, gold was trading at just $2,000 per ounce. And, by mid-April, the commodity’s price had climbed to around $2,400 per ounce. That’s about 20% growth in a matter of months, much of which happened since March 1 – an impressive climb for any investment asset.
Perhaps more importantly, gold’s price growth through the beginning of 2024 shows that the commodity doesn’t have to be a buy and hold style investment that you keep in a safety deposit box or precious metal depository for years to come. There’s also the possibility that the commodity’s price could climb further ahead, making it a compelling way to potentially generate a quick profit.
There are other benefits of investing in gold
There are other benefits of investing in gold that have little to do with the price growth seen thus far in 2024 – or the lull in prices seen over the past couple of days. Those benefits include:
- Inflation protection: Gold has long been considered an inflation hedge, and for good reason. When inflation drives the prices of consumer goods and services up – and the value of the dollar down – gold’s price tends to rise. So, it could be used to maintain the value of your portfolio during inflationary economic conditions. That’s important in today’s economic environment as stubborn inflation continues to weigh on the value of the dollar.
- Portfolio diversification: Gold’s price doesn’t always move in the same pattern that bonds or stocks do. So, mixing a reasonable amount of gold into your portfolio (up to 10% of your portfolio assets) as a diversifier could protect you from losses should one or more of your traditional portfolio assets fall in value. “If you have less than 5% – 10% of your net worth in commodities & FX (forex), you should absolutely consider adding exposure to gold and other precious metals,” says Vijay Marolia, money manager and managing partner at the wealth management firm, Regal Point Capital.
The bottom line
Gold’s price has fallen from recent highs – which may represent an opportunity to tap into growth ahead. However, gold isn’t simply a “buy while it’s low and sell while it’s a high” kind of investment opportunity. The commodity can also protect your portfolio from the stubborn inflation we’ve seen thus far in 2024 while acting as a diversification tool that could increase your risk-adjusted portfolio returns. So, consider adding gold to your portfolio today while it has the potential to grow in value.
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