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Cedric Richmond only member of Louisiana’s congressional delegation wise enough to vote against Dodd-Frank rollback

Posted in Business, Campaign Contributions, Congress, Corruption, Ethics, Finances, Fraud, House, Senate, Media, Politicians, Public Records, Revenue on May 24, 2018| 8 Comments »

I’m no economist and I did not stay at a Holiday Inn Express last night, so I make no claims to be gifted in predicting the future. After all, I smugly opined on the day that Donald Trump announced his candidacy for the presidency that he would crash and burn within six weeks. He may yet crash and burn but it’s taken a tad longer.

But it doesn’t take a crystal ball to see a repeat of the 2008 financial collapse and when it happens, don’t forget to thank Louisiana’s two senators and four of our six representatives. I mean, Stevie Wonder can see the idiocy of the actions of Congress in rolling back the reforms put in place by the DODD-FRANK rules following the disastrous Great Recession brought on by the recklessness of the banking industry.

The HOUSE voted 258-159 on Tuesday to allow banks with up to $250 billion in assets (that’s roughly eight times the size of Louisiana’s $30 billion budget and our legislators can’t even get a grasp on that) to avoid supervision from the Fed and STRESS TESTS. Under Dodd-Frank, the tougher rules applied to banks with at least $50 billion in assets.

Louisiana House members who voted in favor were Garrett Graves, Mike Johnson, Ralph Abraham, and Steve Scalise. Only Rep. Cedric Richmond voted against the measure while Paramilitary Macho-Man, the Cajun John Wayne, Clay Higgins took a powder and did not vote.

The measure, S-2155, had eased through the SENATE by a 67-31 vote back on March 14 and both Louisiana Sens. Bill Cassidy and John Kennedy voted in favor. Kennedy, who loves to preach about revenue and spending, should know better: he was Louisiana State Treasurer for eight years, from 2000 to 2008. You’d think he might have learned something during that time. Guess not. But what could you expect from someone who thought he had “reduced paperwork for small businesses by 150 percent” during his tenure as Secretary of Revenue?

You can be sure that the banking industry lobbied Congress hard for this. Their lobbyists may well have outnumbered—and outspent—the NRA and perhaps even big oil and big pharma in its efforts to show members the right thing for baseball, apple pie and the American Way. Here is a blurb from the Arkansas Banking Association to its members on Monday, the day before the House vote, for example:

ABA (the American Banking Association) is asking all bankers to make a final grassroots push by calling their representatives and urging them to vote “yes” on S. 2155. ABA and all 52 state bankers’ associations sent letters to the House on Friday urging passage of S. 2155. Take action now.

Here is a copy of the ABA LETTER to House Speaker Paul Ryan and Minority Leader Nancy Pelosi and the letter sent by the state ASSOCIATIONS, including the Louisiana Bankers’ Association.

It’s almost as if the bankers, their lobbyists and their pawns in Congress have had their collective memories erased.

Remember “TOO-BIG-TO-FAIL” or costs of somewhere in the neighborhood of $14 TRILLION (with a “T”) to the U.S. economy the last time banks got a little carried away with their subprime mortgages and insane investments of OPM (other people’s money)? Remember how the runaway train wreck of 2008 darned-near destroyed the economy not just of this country, but the entire GLOBAL ECONOMY?

Remember how Congress had to bail out the incredibly reckless banks and how not a single person ever did jail time for the manner in which greed and more greed took over for sound fiscal judgment?

Remember the run-up to the 2008 collapse? Deregulation? Warren Buffet’s referring to derivatives as “financial weapons of mass destruction” (was anyone listening)? Enron? Worldcom? Countrywide? Merrill Lynch? Wells Fargo’s manipulation of customers’ accounts? Lincoln Savings & Loan? Pacific Gas and Electric? Arthur Anderson? Lehman Brothers? Bear Stearns? AIG? Washington Mutual?

Did anyone learn a damned thing? Judging from the rollback of Dodd-Frank, the answer to that critical question must be a resounding “NO.”

And lest you feel a pang of sympathy for those poor, over-regulated banks, consider this: PROFITS for AMERICAN BANKS during the first quarter of 2018 increased by 28 percent, shattering the prior record set just three quarters earlier.

The “blockbuster earnings report” was attributed to tax cuts implemented by the Trump administration, which should give you a pretty good idea about just who the tax bill was designed to help in the first place.

And here’s something that will give you a warm fuzzy: American banks are sitting on almost $2 trillion of capital that will help them survive the next recession—whether you get through the next downturn or not. That theory that excess capital would be plowed back into the economy just didn’t seem to pan out. Wall Street is counting on the Dodd-Frank deregulation allowing banks to return as much of that surplus cash as $53 billion back to SHAREHOLDERS.

Reinvestment? More jobs? Stimulating the economy? Fuggedaboutit.

It’s all about the shareholders.

Always has been, always will be.

And you can bet the shareholders won’t fuggedaboutit when it comes to chipping into the campaign coffers of those members of Congress who had the good sense to vote to lift the unreasonable burden of overregulation off the poor, struggling banking industry.

But what the hell? I’m not an economist. I’m just one of those purveyors of all that fake news.

 

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Nursing home patients in danger of eviction? Don’t believe it. Campaign donations will keep doors open, beds occupied

Posted in Budget, Campaign Contributions, Corruption, DHH, Ethics, Governor's Office, Health Care, House, Senate, Legislature, Legislators, Media, PACs, Politicians, Revenue, Taxes, TV News on May 10, 2018| 18 Comments »

If you like political posturing, puffery, bombast, and breast-beating, then the reaction to that LETTER being sent out to 37,000 nursing home patients in Louisiana is tailor-made for political junkies like you.

The letter, sent out by the Louisiana Department of Health, got the desired reaction. CBS Evening News featured the story prominently in its Wednesday newscast, complete with a brief interview with Jim Tucker of Terrytown, operator of about a dozen nursing homes.

It’s interesting that Tucker was sought out for camera face time. He was Bobby Jindal’s Speaker of the House who abetted Jindal for eight years in gutting the state budget of services for the elderly and mentally ill. And now the roll him out in front of the cameras to cry wolf.

The Edwards administration tried to assure us, through Commissioner of Administration Jay Dardenne and LDH Secretary Dr. Rebekah Gee, that this is not Chicken Little, that the sky really will fall if budget cuts are not restored by July 1, the date that the state is projected to fall over the metaphorical fiscal cliff when $650 million in tax revenue falls off the books.

Typically, the reaction by Republicans in the legislature, the same ones who have steadfastly refused to face fiscal reality since the beginning of the Jindal accident in 2008, was to scream foul to anyone who would listen—and there were plenty who did.

Dr. Gee, of course, did her part, even tearing up as she explained to the TV cameras that hearts “are breaking over the need to do this. We can’t provide services with no money to pay for them.”

Dardenne added his bit, saying, “This letter is scary, but it’s not a tactic. This is the reality that we are facing.”

But House Appropriations Committee Chairman Cameron Henry (R-Metairie) gave the best performance. With a lock of hair hanging down over his forehead a-la the late Bobby Kennedy, he bleated, “This is premature at best, reckless at worst,” adding that the letter was designed “to scare the elderly of this state, and that is an embarrassment.” No, Cameron, you’re an embarrassment.

Ditto for Rep. Lance Harris (R-Alexandria), chairman of the House Republican Delegation, who called the letter an “unnecessary political scare tactic done to intimidate and frighten the most vulnerable people into believing they will be kicked out onto the streets if the governor doesn’t get everything he wants in the form of revenue.”

And Cameron Henry should understand that the legislature as a body is no less an embarrassment to those of us who have been forced to observe its collective ineptitude on a daily basis for 10 years now. To quote my grandfather, they couldn’t find a fart in a paper bag.

Lost in all the rhetoric is the hard fact that the administration might not have found it necessary to send out the letter—regardless whether it’s a scare tactic or reality—had the legislature made any effort to face up to its responsibility to the 4.5 million citizens of this state.

But here’s the real reality—and just remember where you read it:

Not a single nursing home patient is going to be evicted. Not one.

Want to know why?

Money.

And I don’t mean money to be appropriated by the legislature to properly fund state government, nursing homes included.

I’m talking about campaign money.

Lots of it. Tons of it.

Since 2014, individual nursing homes, nursing home owners, and nursing home political action committees have contributed more than $750,000 to Louisiana politicians, primarily legislators. Here is just a partial list of NURSING HOME CONTRIBUTIONS

And that’s just over the past four years.

More than $50,000 was contributed the campaign of Edwards.

Henry, the one who called out the administration for its “scare tactics,” received more than $10,000 since 2014.

Senate President John Alario also received more than $12,000 over the same time span.

Louisiana Public Service Commission member Foster Campbell said on the Jim Engster show on Louisiana Public Radio earlier this week that since he first ran for the legislature more than 40 years ago, the cost of seeking political office has become cost prohibitive. Foster said when he first ran for the State Senate in 1975, he borrowed $7,500 to finance his campaign. “Now, it costs hundreds of thousands of dollars” and the average person who wants to serve cannot afford to do so, he said.

I’ve always wondered why corporations and the wealthy who seem so concerned about “good government” don’t use their money to help others rather than lavish it on politicians. The money they throw at politicians and lobbyists could be put to such more productive use—but they don’t try because they don’t really care about good government. And every now and then, I can’t help wondering why that is.

But I don’t wonder about it long. The answer is obvious: power and influence.

And that’s a sorry commentary on our political system, from the local level all the way to the very top of the political pyramid.

And it’s for that reason that not a single nursing home resident will be evicted. By some miracle, repeated every year, it seems, extra money will be “found” to do what is politically expedient.

Because the money has already been spread around by those who buy influence and legislators.

Remember where you read it.

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Greed is the name of the game as Senate payday loan bill would double interest rates: follow the campaign dollars

Posted in Campaign Contributions, Corruption, Ethics, Governor's Office, Legislature, Legislators, Senate on May 4, 2018| 7 Comments »

If you would like a crystal-clear example of the disdain with which elected officials hold their constituency, those people whose interests they are elected to serve, you need look no further than SENATE BILL 365 by Sen. Rick Ward (R-Port Allen).

The bill, which gives Louisiana’s payday loan industry an opportunity to dig its spurs a little deeper into the very people who can lease afford it, was passed in the Senate on Monday by a 20-17 VOTE, with two members not voting.

Of the 20 who voted in favor of the bill, 13 have received campaign contributions totaling $43,250 (an average of $3,327 each) since 2011. Three of those, Daniel Martiny, R-Metairie ($9,500), Body White, R-Central ($9,000) and Gary Smith, D-Norco ($7,950), averaged $8,817 each.

Other recipients included:

  • Conrad Appel, R-Metairie: $4,000;
  • Wesley Bishop, D- New Orleans: $1500;
  • Norby Chabert, R-Houma: $2500;
  • Dale Erdy, R-Livingston: $1000
  • Ronnie Johns, R-Lake Charles: $3000;
  • Eric Lafleur, D-Ville Platte: $1500;
  • Beth Mizell, R-Franklinton: $500;
  • Barrow Peacock, R-Bossier City: $1500;
  • Ed Price, D-Gonzales: $1000;
  • Rick Ward, R-Port Allen: $2300.

Fourteen of the 17 senators who voted against the bill also received a combined total of $34,500, or an average of $2,464 each, campaign finance records show.

They included:

  • Senate President John Alario, R-Westwego: $7000;
  • Dan Claitor, R-Baton Rouge: $1000;
  • Page Cortez, R-Lafayette: $4500;
  • Jack Donahue, R-Mandeville: $500;
  • Jim Fannin, R-Jonesboro: $2000;
  • Gerald Long, R-Winnfield: $2500;
  • Dan Morrish, R-Jennings: $2500;
  • Jonathan Perry, R-Kaplan: $1500;
  • Neil Riser, R-Columbia: $2500;
  • John Smith, R-Leesville: $5000;
  • Leon Tarver, D-Shreveport: $1000;
  • Francis Thompson, D-Delhi: $1500;
  • Mike Walsworth, R-West Monroe: $2000.

Good on them for not cratering to the influence of campaign bucks but the overriding question remains: Why do candidates even accept money from these type sources when they know full well their motives?

The bill, if approved by the House and signed by Gov. Edwards who received $6,500 himself from payday loan contributors, would create the Louisiana Credit Access Loan Act, which would allow lenders to issue new payday loans from $500 to $875 for terms of three to 12 months. Present law limits loans to $350 for up to 60 days.

The bill also doubles the annual percentage rate on loans that can be made.

Proponents of the bill say that payday lenders provided a needed service to low-income borrowers who are unable to obtain traditional loans. But what they do not say is that such loans carry a $131 origination fee and 85 percent APR. Ward’s bill would increase the fees to $270 and the annual interest rate to 167 percent.

Jan Moller, director of the Louisiana Budget Project argues that Louisiana’s lower-income citizens upon whom payday loan companies prey, cannot afford triple-digit interest rates, adding that the bill is being pushed by more than a dozen “well-connected lobbyists” who he said are selling “a false narrative.” He said the bill is an example of “greed and arrogance at the highest level.”

The finest legislators money can buy, folks.

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State attorneys among those solicited on work emails to contribute to appeal court judge’s election campaign fund

Posted in Campaign Contributions, Computers, Courts, Elections, Ethics, Judges, Politicians, State Agencies on April 25, 2018| 2 Comments »

The powers that be in state and local government, i.e., agency and departmental heads, like to give the impression that personal activities on the job, particularly as they might involve office computers and personal email messages, are strictly verboten.

That’s not to say, of course, that while the lowly peons are held to this higher standard of professional excellence, supervisors don’t shop Amazon.com or book cruises or Disney vacations while at work.

But, hey! Everyone fudges on those restrictions. It’s the rare employee indeed who doesn’t sneak in a little self-time on state computers and telephones.

But the Hon. JIMBO STEPHENS, newly-elected judge on the Second Circuit Court of Appeal, or at least Rayville attorney John Hoychick, Jr., acting on his behalf, has taken the practice to new heights with an email blast to a gaggle of attorneys seeking campaign contributions for Stephens.

Hoychick included in his email at least five attorneys working on the public dime, either for the City of Monroe, the University of Louisiana Monroe, or the gret stet of Looziana as well as no fewer than seven barristers in the employ of CenturyLink, the telecommunications company headquarter in Monroe.

Louisiana agencies some of the recipients work for are employed by include the Department of Social Services and the Department of Children and Family Services (where the rank and file workers are chronically short-staffed and overworked but not, apparently, the attorneys).

Stephens, who defeated 4th JDC Judge Sharon Marchman in last October’s ELECTION, apparently wishes to retire his campaign debts and Hoychick is not the least bit shy in calling on some 140 attorneys in his email blast to do just that.

And while it may be a breach of protocol to solicit contributions from them at their taxpayer-funded jobs, it nevertheless serves as a classic illustration of how judges tend to lean on attorneys who might at some time in the future appear before them to argue a case or two—and woe unto one who has not paid his dues (at least that seems to be the mindset).

A “Sponsor Couple” can buy in for a mere 500 bucks while those on a tighter budget can get by for $150 as a “Supporter Couple,” according to Hoychick’s email solicitation.

(I just hope Stephens’s fundraiser doesn’t cut into LouisianaVoice’s ongoing fundraiser.)

Curiously, the email (or at least the one forwarded to LouisianaVoice) doesn’t give a date, time, or location for the highly anticipated “kickoff event.” But not to worry: checks, “payable to Judge Jimbo Stephens Campaign Committee,” can be brought to the event (wherever) “or mailed to Judge Jimbo Stephens Campaign Committee.”

Surely, the State of Louisiana, ULM, the City of Monroe, or CenturyLink won’t mind if their staff attorneys take a little time to write a check to the good judge. After all, if there’s important legal work to be done, it can be pawned off on an overworked paralegal or legal secretary.

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HB 727 to criminalize Bayou Bridge protests supported by ALEC, contributions from companies connected to project

Posted in ALEC, American Legislative Exchange Council, Business, Campaign Contributions, Ethics, Finances, Governor's Office, House, Senate, Judges, Lawsuits, Legislature, Legislators, Lobbyist, Louisiana Purchase, PACs, Politicians, Senate on April 23, 2018| 3 Comments »

Something happening here,

What it is ain’t exactly clear

 

The 1967 Buffalo Springfield Vietnam War protest song, For What It’s Worth could be applicable to just about any scenario in Louisiana politics but probably never more so than with HOUSE BILL 727 by State Rep. Major Thibaut (D-New Roads).

Thibaut, posing as a Democrat but appearing to be anything but, apparently wants to repeal the FIRST AMENDMENT which guarantees American citizens the right of peaceful assembly.

HB 727, which has 50 additional co-authors in the House and 14 in the Senate, would amend an existing statute in accordance with the dictates of the AMERICAN LEGISLATIVE EXCHANGE COUNCIL (ALEC), which long ago wormed its way into the Republican mindset as a means of advancing its agenda.

That agenda, of course, works hand-in-hand with that of corporate America—big oil, big banks, big pharma, charter schools, and private prisons, among others—to the overall detriment of those who ultimately foot the bill—the working stiffs of middle America who continue to convince themselves that their interests are compatible.

The bottom line is this: if the corporate giants are shelling out millions upon millions of dollars to lobby lawmakers and to finance their campaigns, you can bet they’re in bed together. And when they whisper sweet nothings in each other’s ear, they ain’t discussing how to make your life easier.

And that’s HB 727 and ALEC are all about. While the seemingly innocuous bill appears only to lay out penalties for trespassing onto “critical infrastructure,” and to include “pipelines” or “any site where the construction or improvement of any facility or structure…is occurring” to the definition of critical infrastructure, the wording of the bill includes subtle landmines designed to discourage otherwise legal protests.

For instance, while criminal trespass and criminal damage has long been considered a violation of the law, the bill adds this provision:

“Any person who commits the crime of criminal damage to a critical infrastructure wherein it is foreseeable that human life will be threatened or operations of a critical infrastructure will be disrupted as a result of such conduct shall be imprisoned at hard labor for not less than six years nor more than 20 years, fined not more than $25,000, or both.”

There’s a man with a gun over there

Telling me I got to beware

The key phrase here is “wherein it is foreseeable…”

This is a pretty subjective call on someone’s part. Just who decides what is “foreseeable”?

And then there is the conspiracy clause that’s added to the bill.

HB 727, which passed the HOUSE by an overwhelming 97-3 vote with five members absent, provides if “two or more” person conspire to violate the statute, each “shall be imprisoned with or without hard labor for not more than five years, fined not more than $10,000, or both.”

Just what would constitute a “conspiracy” in this case? Well, it could mean the simple discussion of possible trespass. Whatever it is, the word “foreseeable” is thrown into the mix again. So, a protest in the proximity of pipeline construction could conceivably be construed by an ambitious prosecutor as “conspiracy” and any discussion during such a protest could become a conspiracy.

Besides being yet another windfall for the private prisons, this bill is nothing more than a means to discourage protests over pipeline construction through sensitive areas such as the Bayou Bridge Pipeline, a joint venture of Energy Transfer Partners and Phillips 66 (keep those names in mind; they’ll come up again later).

It’s also an obvious effort to placate ALEC and the oil and gas industry that has held this state, its governors and legislators captive for a century. The political leaders of this state, from the governor on down, won’t go to the bathroom without permission from Mid-Continent Oil and Gas Association, which boasts on its WEB PAGE that it is “Louisiana’s longest-standing trade association” (read: lobbying arm of the petroleum industry).

There’s battle lines being drawn;

Nobody’s right if everybody’s wrong

What’s not difficult to believe is the motivation behind nearly half of the bill’s sponsors.

Of the 51 representatives and 14 senators who signed on as co-authors of the bill, 31 (23 representatives and eight senators) combined to rake in $62,500 in contributions from Transfer Partners and Phillips 66 since January 2011.

ENERGY TRANSFER PARTNERS CONTRIBUTIONS

PHILLIPS 66 CONTRIBUTIONS

Phillips also gave $3,500 to Senate President John Alario and Energy Transfer Partners chipped in another $4,000. Additionally, Energy Transfer Partners gave $4,000 to then-Sen. Robert Adley of Bossier Parish who was appointed by Gov. John Bel Edwards as Executive Director of the Louisiana Offshore Terminal Authority, $2,000 to then-Rep. Jim Fannin of Jonesboro who served as Chairman of the House Appropriations Committee at the time.

Energy Transfer Partners also contributed $5,000 to Edwards, who is on record as SUPPORTING the Bayou Bridge project, and Phillips 66 added another $5,500.

Thibaut was not one of those. But he did specialize in accepting campaign contributions from more than 40 political action committees—including several aligned with energy interests. In all, he pulled in $105,000 from PACs since 2008, campaign records show.

Those PACs included such diverse interests as dentists, bankers, payday loan companies, optometrists, insurance, student loans, pharmaceutical companies, sugar, realtors, and nursing homes, to name only a few.

EASTPAC, WESTPAC, NORTHPAC, and SOUTHPAC, four PACs run by the Louisiana Association of Business and Industry (LABI) combined to $13,750 to Thibaut, records show, while the Louisiana Manufacturers PAC gave $11,000.

With that money stacked against them, the Bayou Bridge pipeline opponents are fighting an uphill battle, especially with leaders like Edwards already having publicly endorsed the project.

The end game, of course, is to head off a repeat of STANDING ROCK, the largest Native American protest movement in modern history over the construction of a 1,170-mile Dakota Access pipeline, of which the BAYOU BRIDGE project through the Atchafalaya Basin is a part. Opponents of the 162-mile Bayou Bridge project—from St. James Parish to Calcasieu Parish—say would harm the area’s delicate ecosystem.

Standing Rock was an ugly scene, further illustrative of how this country has time after time ripped land, basic human rights and dignity from the country’s original inhabitants, inhabitants who weren’t even recognized as American citizens until 1924 even though more than 12,000 fought for this country in World War I.

Standing Rock apparently was such a national emergency that St. Charles Parish Sheriff Greg Champagne, at the time President of the National Sheriffs’ Association, found it necessary to visit Standing Rock in 2016 and to write a lengthy self-serving account in the association’s online PRESIDENT’S PODIUM of the carnage he witnessed at the hands of the protestors whom he described in less than glowing terms.

His article prompted a lengthy REBUTTAL by Cherri Foytlin, state Director of BOLD LOUISIANA in Rayne and Monique Verdin, a citizen of the UNITED HOUMA NATION, who also were at Standing Rock. It’s difficult to believe, after reading the two missives, that they were at the same place, witnessing the same events play out.

What a field day for the heat;

A thousand people in the street

Singing songs and carrying signs

Mostly saying, “hooray for our side.”

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