For every problem ailing us, career politician Erik Paulsen (remember, Paulsen was selected to a Party Leadership Position in 2009) has a Three Point Plan: "less taxes, spend less, less regulations." Let's look at how well (or not) Paulsen's extremist right wing Three Point Plan (remember, he votes party line more often than Bachmann) fits in with a business section column in today's print edition of the Strib:
A Few More Bad ApplesHmmm... "cooked books".... Where have I heard THAT phrase before?
And now, the week's financial news:
Russ Wasendorf, founder of Peregrine Financial Group in Cedar Falls, Iowa, ran an exhaust hose into his Chevy Cavalier. Regulators allege he'd been cooking his books; millions are reportedly missing from client accounts. His company has filed to liquidate in bankruptcy court, and Mr. Wasendorf, 64, was arrested Friday after being hospitalized.
Hey! I heard it here - Republicans, locally, are known for it!
Anyway, after Al Lewis discusses a few more "bad apples" there's this:
Around the world, regulators continue investigating how many major banks may have been manipulating interest rates. The probe follows the resignation of Barclays honcho Robert Diamond and the international bank's agreement to pay $450 million to settle claims that it put the fix on interest rates. These rates—called Libor—help determine what businesses and consumers pay on loans across the entire planet.Clearly, it's a HUGE problem, what these Banskters are up to; affecting folk across the globe. Al Lewis finishes today's column with:
Yes, shocking. And this is just the stuff reported last week. I don't have space to hash over the past decade, except to note that years ago our political and corporate elites promised that Enron's collapse, while shocking, was an isolated event. Even relatively trustworthy business leaders agreed, including broker for the people, Charles Schwab.No, it's NOT shocking; not shocking at all. It's predictable, when a Party Leader, such as career politician Erik Paulsen is, is running for re-election on a Three Point Plan that enables that kind of behavior.
"It is amazing to see this Enron thing unfold," Mr. Schwab told the Austin American-Statesman in 2002. "It's sort of ghastly. And you wonder what were they thinking about. You wonder how far along, how long ago did they cross over the line. My own view is that it is highly isolated; it's not rampant.… One bad apple."
"Less taxes." That means there's less money to pay for people to investigate and prosecute crime.
"Spend less." See above; fewer investigators and fewer prosecutors to put Banksters behind bars.
"Less regulations." In a nut shell (pun intended), Paulsen thinks Banksters should have fewer rules to follow. But hey, that's ok: who needs rules when there's less investigators and prosecutors anyway?
Paulsen's bought into "Reaganomics", which allegedly would spur growth by - ready for this? - "less taxes, less spending, and fewer regulaions."
How's THAT worked out, over the last couple of decades? There's a reason Bush The Elder called "Reaganomics" "Voodoo Economics" - that's EXACTLY what it is.
Paulsen also went all-in on The Ryan Budget Plan, just this spring.
Financial scandals like ENRON used to happen occasionally. Al Lewis talked, above, about how they're now happening DAILY. How do these Banksters get away with their scams for so long, before they're caught and run off with so many victim's hard-earned money?
"Less taxes." "Spend less." "Less regulations."
That's NOT just the plan of a Congressman from Minnesota's 3rd District; that's the plan of a Leader in the Party In Power in Washington D.C.
Anybody ever remember Paulsen running on a "let's get tough on crime!" platform? No? Me neither. Don't remember that at all. Perhaps that's because tossing criminals in the can requires MORE spending. That requires MORE taxes. That requires MORE regulations, because when it's found out that Banksters are exploiting loopholes in the laws, new laws (and regulations) are needed.
If you have investments in 401(k)'s and the like, you should be worried - very, Very, VERY worried.
Because by it's very nature, Paulsen's Three Point Plan calls for less investigators and prosecutors for the Banksters on Wall Street.