Of all the good folks I’ve met through time Mac stands out as one of the most fascinating of the group. Take a bow sweet.
But then again never in my life would I have ever expected the Mississippi State Auditor to use the power of the office to obstruct journalism in the public interest so as to spare his political friends and associates embarrassment in the wake of the DMR scandal. Auditor Pickering earned himself a contempt of court citation for that one, which he happily took for the family.
I mention this because one of my better sources there in Jackson County has unequivocally indicated to Slabbed that Jackson Co. D.A. Tony Lawrence’s daughter previously clerked at Dogan and Wilkinson and has publicly expressed an interest in working there after law school. If what I am told is true and Pascagoula is a small enough community where such things would be widely known in the legal circles, I question the thinking that went into Mr. Lawrence leading any investigation into the doings at SRHS, where Dogan and Wilkinson played a central role in the unfolding disaster.
I never had much faith in the Mississippi investigative community and what little I had was shattered when Pickering, former AUSA John Dowdy and pals misused a federal Grand Jury subpoena to seal up the DMR records. Even if Mr. Lawrence has the best of intentions, the appearance of a conflict of interest is enough for me. Mr. Lawrence should step aside.
Thursday, January 29th, 2015
Baton Rouge, Louisiana
LOUISIANA JOINS IN GIVING BAILOUTS TO WALL STREET!
Well, here we go again. Big banks and major insurance companies are “high-fiving” each other after they won big in Washington last month. We thought lawmakers had learned an expensive lesson after the financial crash in 2008 that led to massive bailouts at taxpayer’s expense. Back then, the financial industry was allowed to carry on high stakes gambling with your money. And now, it’s déjà vu as congress has reopened the casino doors.
Following the 2008 financial meltdown, congress used a little common sense and passed legislation known as Dodd-Frank, that limited banks and insurance companies from engaging in risking investments backed up by the taxpayer. “Go ahead and gamble on high-risk investments if you want, but don’t expect a bailout,” so the logical reasoning went.
High-risk derivatives were one of the major financial culprits that led to the financial reforms. Insurance companies like A.I.G. were insuring risky Wall Street investments, knowing full well that if things went bad, old Uncle Sam would be there to pay for the damage done. And since insurance companies like A.I.G. are regulated at the state level, regulators in Washington paid little attention.
Here’s what happened that caused the financial crisis. Insurance regulators had for years allowed A.I.G and other insurance companies to privatize the gains but socialize the losses. The fat cats at A.I.G. got multi-million dollar bonuses year after year, but when the losses had to be paid, it was the taxpayer, you and me, that were called on to cover all the wild-eyed spending spree that regulators allowed to take place. Continue Reading…………..