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Idaho State Issues

Primary vote over. Next the general election. Here is what to ask the candidates: Where will the people get the money:

The Tax shift of 2006, removed the 3 mils school tax, increased the sales tax and established the Public Education Stabilization Fund (PSEF) as a rainy day fund for education. Proponents said that it would "protect schools now and forever".

What is happening now? Most of the school districts in the state are declaring financial emergencies, allowing them to open contracts and work collaboratively with their teachers and other employees to handle the shortfall in state money coming their way. Several have gone to their local property tax payers for levies.

Some school districts will have to see lower levels of service, larger classes or more furlough days. Finance experts like William Black show that the finance bill from the senate and house, to soon be in conference committee, will not stop recessions. Other experts say that unemployment will be with us for years, maybe five years or more.

With unemployment high (9.8%) in Idaho now, the people are faced with school bonds and increased sewage fees ($12 increase in Salmon).

Where will the people get the money?

The above is my message to Rep Wood, Rep Barrett, and Senator Siddoway on May 27, 2010.

Here is what Senator Siddoway said.

Idaho Democrats Unveil Visionary IJOBs Plan

Idaho Jobs and Opportunity Blueprint

My answer to Eliot Werk, who told me about the video for IJOBS is here.

Senate Bills in the video:

1273 1274 1275

House Bills in the video:

549 686 479

Could not find: Idaho Small Business Jobs Development Act

Federal Government Issues

Finance bill will not stop recessions.

More on the Finance Bill; will not stop fraud.

My message to Obama, Simpson, Crapo, and Risch on May 29, 2010:

Geithner is continuing Paulson’s policy of violating Title 12, Sec. 1831o, the Prompt Corrective Action Law (PCA). This law mandates that banking regulators take prompt corrective action to resolve a troubled bank. The law mandates that the administration place troubled banks, well before they become insolvent, in receivership, appoint competent managers, and restrain senior executive compensation. No bonuses and no raises may be paid to them. The law does not provide that the taxpayers are to bail out troubled banks. Treasury Secretary Paulson and other senior Bush financial regulators flouted the law, and then made a law (TARP) to bail out the banks. Geithner is now flouting the Prompt Corrective Action Law.

Republican and Democrat legislators should insist that Geithner enforces the Prompt Corrective Action Law.

Secretaries Paulson and Geithner subverted the PCA law by allowing failed banks to engage in massive accounting fraud, which also means they are engaged in securities fraud. Treasury is telling the world that resolving the failed banks will require roughly $2 trillion dollars. That has to mean that the failed banks are insolvent by roughly $2 trillion. The failed banks, however, are reporting that they are not simply solvent, but are really well capitalized. The regulators flout PCA by permitting this massive accounting and securities fraud.

Please insist that Geither enforces the Prompt Action Law.

Analysis is at:

http://www.pbs.org/moyers/journal/blog/2009/04/william_k_black_on_the_prompt.html
http://www.huffingtonpost.com/william-k-black/why-is-geithner-continuin_b_169234.html

My message to Obama, Simpson, Crapo, and Risch on May 30, 2010:

Here is my message to Senator Crapo about finance reform on May 30, 2010.

Senator Crapo:

You recent letter about transparency in the finance reform conference committee is welcome. We look forward to seeing how the conference deals with lobbyists. The influence of the finance industry lobbying is a continuing threat to finance reform.

In the upcoming conference committee proceedings on finance reform, please do all you can to:

Make strong the provision by Sanders which, will lift the veil of secrecy at the Federal Reserve and give the American people an understanding of where trillions of their tax dollars went in the Wall Street bailout.

lower interest rates on credit cards

break up the largest financial institutions

regulate or eliminate derivative trading and credit default swaps; close these loopholes

make mandatory the following of Title 12, Sec. 1831o, the Prompt Corrective Action Law (PCA)

make a stipulation on finance institution size to eliminate the threat of too big to fail

consult with Russ Feingold, Maria Cantwell, Bernie Sanders, Jeff Merkley, Carl Levin, Sheldon Whitehouse, and others in your work on the conference committee

Incorporate into the finance bill the Marcy Kaptur amendments that propose a dramatic increase in hiring of white-collar crime specialists by the FBI and additional prosecutors. That would address one of the fundamental causes of this crisis, which is this epidemic of accounting control fraud

change the accounting to eliminate accounting fraud

take on the systemically dangerous institutions and regulate them

deal with executive compensation and make it based on performance

My message to Obama, Simpson, Crapo, and Risch on May 27, 2010:

Please put all finance committee (Barney Frank & Chris Dodd committee) activities on c-span or other place so we all can see the discussions of amendments, how agreements are made, and how the final bill becomes law.

REPUBLICAN SENATORS (including Mike Crapo) CALL FOR TRANSPARENCY, ACCOUNTABILITY IN FINANCIAL REFORM CONFERENCE on May 28, 2010, in a letter to Chris Dodd and Barney Frank.

Richard Wolf and William Black show how the finance bill will not stop recessions, like the one we are in now, which was caused by the finance industry.

Voting people helping people

Ordinary people doing extraordinary things, even the hard issues.