Would You Hire Deal to Run Your Business?

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9 responses to “Would You Hire Deal to Run Your Business?”

1. 

   JMPrince

   September 17, 2010

   Self dealing Crony Capitalism & Command Fraud? You’re swimming in it. Daily. This is why Big Bidness Loves Big Gummint. But only when it’s at their command!
   http://thinkprogress.org/2010/09/16/sb1070-prison-lobby/

   “Prison Industry Funnels Donations To State Lawmakers Introducing SB1070-Like Bills Around The Country” [On that infamous ‘Stop & Frisk Bill ‘coming out of nowhere in AZ to take over the US].

   The examples as they say, are endless. Bush-Cheney Co era ties to Halliburton-Bechtel-Carlyle were neither the first, nor the last word on such systemic corruption. JMP

2. 

   JMPrince

   September 16, 2010

   Heard recently on the internets with regard to ‘strategic defaults’, which happens in the corporate world quite regularly. “Debt that can not be repaid, will not be repaid”. That’s from an Aussie Economist Steve Keen Here: http://www.debtdeflation.com/blogs/

   And no, I am not related to anyone, nor do I know anyone who could hit up their parents for roughly half/all(?) of their net worth for a new (and therefore risky) business venture. They’re evidently living in quite a different world than you or I. So perhaps we’re really not getting the full story here somehow. But it often pays to have a suspicious mind in politics & finance too. JMP

3. 

   JMPrince

   September 16, 2010

   BTW? This seems to be a common thread here. This lovely fruitcake from DE? The one who may yet save the majority for the US Senate? Has had plenty of similar money issues, extending back for years. Sued by various & sundry, foreclosures, using campaign funds for living expenses yet not paying staff? Must be SOP for the GOP.
   http://tpmmuckraker.talkingpointsmemo.com/2010/09/the_top_ten_christine_odonnell_quotes.php?ref=fpb

   And this from Jay Bookman is about the clearest case of standard issue of ‘control fraud’ there is:

   “As investigators in the Office of Congressional Ethics have noted, Deal was a partner in a highly profitable Gainesville business that held a state-enforced monopoly on auto-salvage inspections in North Georgia. (Deal was not alone; auto-salvage yards in other parts of the state enjoyed a similar regional monopoly.)

   However, when state officials announced plans in 2008 to end that arrangement, Deal used his political influence to try to block that reform. Through his friendship with Lt. Gov. Casey Cagle, Deal set up private meetings in Atlanta with top state officials, including Cagle and the head of the Department of Revenue, in which he lobbied aggressively to preserve the existing system.

   Deal has insisted for months that he intervened not to protect his own interests, but out of concern that the new system would let unsafe vehicles onto the highways.

   However, as we now know, the Gainesville salvage business and the profits it generated represented critical assets as Deal struggled to keep his family afloat. The state’s plan to reform the salvage system posed a real threat to that asset. In light of this week’s revelations, it is increasingly hard to believe that altruism was Deal’s sole motive.

   The OCE report put the facts in blunt language:
   “It is undisputed that as a ‘public servant,’ Representative Deal took active steps to preserve a purely state program, one that had generated financial benefit for Representative Deal and his business partner.” [End Bookman Quote]
   Via AJC’s Jay Bookman
   “The political implications of Nathan Deal’s finances” 9/16/10

   Pretty stark & simple right? We’ll get crony central with Deal’s Deals. Anywhere. But now? With the Ga. Tax payers paying big time for the privilege. Again. Just like Sonny, only worse. JMP

4. 

   JMPrince

   September 16, 2010

   Acres might be written about this. But it’s a species of ‘control fraud’ most likely. For everyone following along at home, we’ve got to wonder, ‘Why are there 2 sets of laws? One for the powerful & well connected, and another for everyone else?’ And it happens time & time again in venue after venue. Sonny gets a 100K+ tax break on a secret land deal written just for him at the last minute so it’s a cinch to pass the General Assembly with little to no opposition & hardly anyone noticing. Then there’s the tax breaks for him & his cronies that amount to perhaps millions more on land deals that are half uncovered by the AJC, and then promptly forgotten.

   And the GOP Leadership of the Senate & House? Of course they come sort of ‘pre-indicted’, right? Memeber this? “Bank sues Tom Graves (R-Ranger) & Chip Rogers (R-Woodstock) for $2.3M loan”,
   6/1/2010 Savannah Morning News, http://www.democraticpartyofgeorgia.org/node/1681
   about the $2.3 Million dollars Chip Rogers & now Cong Tom Graves took our Bartow Co. Bank for? They’ll likely never have to actually pay it back. They’ve got the lawyers to hire to try & litigate this yes, most likely simple fraud & default for years, until the Bank relents or is driven under.

   No this stuff with Deal is certainly not finished & he’s almost certainly lying about it’s extent. But hey, like someone once said, there’s 2 America’s. One where you’re locked up for these kinds of frauds & common deceit. And another where you’re well connected enough to write your own rules about how they might apply to you. Or you can actually threaten the locals that you’ll write some onerous laws that will disadvantage them & their business here at home. So they’re given a sly pass. Allowed to lawyer up, perhaps pay some small ‘symbolic’ fines at best ‘without admitting any wrong doing’ and sent blithely on their way.

   But the rest of us ‘civies’ out here? On a straight salary of 174K & perhaps 500K in property? We don’t get to commonly run up some $5 million in debts, and then be ‘forgetful’ about them. The banks come to your door & repossess everything you’ve got. So no, it’s not over. And that loan to family members? Most likely a convoluted cover story for the larger picture too. Which we & the press have got about 40 days or so to try & figure out with not much help from Mr. Deal. JMP

5. 

   Mel

   September 16, 2010

   Yes, a father stepping up to help his daughter is commendable, but there are limits. I’m not sure which is worse in all of this, his hypocrisy, duplicity or incompetence.

6. 

   Ed

   September 16, 2010

   I feel you, don’t get me wrong. I’m just saying, it must suck being close to financial disaster. And he shouldn’t run shit. That’s all.

7. 

   AmyMorton

   September 16, 2010

   He failed to disclose these last two loans on his
   Personal financial disclosures he was required to
   file to run for gov. He overlooked it. How in blue blazes
   does someone overlook millions in loans?
   This is the same man who wants us to “trust” his
   personals disclosures filed with congress instead of
   showing us his IRS schedules. There is nothing about hiding
   that makes me feel badly for Deal.

8. 

   Ed

   September 16, 2010

   I still feel bad for him because while I have nowhere near $1 M in debt (or for that matter $100K) it sucks to have as much as I do. And I’m not on the brink of catastrophic financial ruin. So yeah, still feel sorry for Deal, definitely reflects poorly on him. Not a false dichotomy. So glad I never had any intention of voting for him.