Sunday, September 19, 2010

ReThugs Aren't So Good With Money, Especially Taxpayer's Money

Take Florida, for example.
Chief Financial Officer Alex Sink pushed the state to sue big banks, which she said dumped tainted investments on Florida.

Gov. Charlie Crist demanded a no-holds-barred investigation and named four Wall Street firms that he suspected took advantage of the state.

Attorney General Bill McCollum wondered if there had been fraud and promised help with an investigation.

But no bank was prosecuted, no lawsuit was filed and there was never a full accounting of a financial debacle that could cost Florida governments and taxpayers hundreds of millions of dollars.

The securities Wall Street "dumped" on Florida? The records show the state was anything but an innocent dupe; it was an eager partner.
''Florida can't say it got snookered," said Peter Henning, a Wayne State University law professor and securities law expert, when told what the documents said.

"They were chomping at the bit to buy risky securities. … These weren't lambs being led to the slaughter. They weren't fooled. … They seemed to go along quite happily."

& yet it is the Democratic Party, the left (professional or not), & we DFH who are so profligate with the taxpayer's money - oh yeah, Social Security, Workman's Comp., Medicare, etc.

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