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Former state trooper Jimmy Rogers, according to his attorney Ron Richard, “probably sang the NATIONAL ANTHEM at more events in this town (Lake Charles) than anyone else.” Now Rogers is singing again but this time his singing is confirming the existence of TICKET QUOTAS in Troop D first reported by LouisianaVoice as far back as September 2015.

Senate Bill 799 of the 2008 legislative session breezed through the Senate by a 37-0 vote and the House by an 86-18 count to become ACT 479. The bill by Sen. Joe McPherson, theoretically at least, prohibited quotas for law enforcement officers. Of course, if you think that stopped the practice in small towns scattered over the state that depend on ticket revenue to balance their budgets, I have some surplus Scott Pruitt Public Servant of the Year nomination forms for you.

Rogers, who was ARRESTED on 74 criminal counts, first resigned ahead of a State Police Internal Affairs investigation, and then requested to be DISCIPLINED AND REINSTATED.

But thanks to the efforts of the Metropolitan Crime Commission, the Calcasieu Parish DISTRICT ATTORNEY’S OFFICE pursued the matter and Rogers eventually pleaded guilty to two felony counts of malfeasance in office, which automatically disqualifies him from working in another police department.

But if you thought Rogers would go quietly, you would be wrong. As his law enforcement career circled the drain, he decided he would pull others down with him and his manifesto, published on Facebook, only served to validate what LouisianaVoice wrote about Troop D over a period of at least two years.

The Lake Charles AMERICAN PRESS published a story about his lengthy Facebook statement but did not publish the actual 10-paragraph bitter, self-serving post.

So, here it is in its entirety (with punctuation and spelling corrected):

My name is Jimmy Rogers. As most of you have seen on the news lately, I used to be a Louisiana State Trooper, note that I have not been a Trooper since 2015. As a result of a “VERY LIMITED” investigation into the LACE program, I was recently arrested and I pled guilty to 2 counts of malfeasance in office. I have stayed quiet for the duration of this situation. However, I feel like it is time to share my side of the story. My hope is not that you will feel sorry for me, but that it would spark an outcry for justice, an outcry for a REAL investigation. That investigation would reveal that Jimmy Rogers is only one of hundreds, if not thousands of Troopers who have done the same thing. I’m sure certain people and the guys from the LouisianaVoice and other media outlets will expect me to be angry and lash out at them. But I’m not! The public is tired of dirty cops, dirty prosecutors, a dirty system and, specifically, a dirty state police office! Ladies and gentlemen, SO AM I! 

Let me start out by saying, I am GUILTY. I am guilty for participating in what is, in my opinion, a gross violation of YOUR constitutional rights. You are being taxed without your knowledge. 

The District Attorney’s office dangles a few dollars in front of police officers and in turn those officers write a required amount of tickets. It is well-known that the DA only cares that you give him 2 tickets for every hour he pays for. To answer the question everyone always asks, (YES THAT IS A QUOTA)!! If you do the math, he gives the cop 1/3 and pockets the rest of the money. (The temptation to double your salary is just too hard to resist)! 

John Derosier and his office have made millions of dollars on the backs of hard working, innocent Americans. I never thought of overtime this way until I married my beautiful wife only a year ago. I’ve listened to her stories of struggle as a single mother. How one ticket could literally bury a person who struggles in poverty to feed their children. They are then forced to choose between paying a ticket or a light bill! Lose your lights or be buried under tickets that continue to pile up until you have no other recourse than to sit in jail or make payments for years! Why you ask? For money!!!! 

There is no requirement as to the location of these detail. The DA will lie to you and say that the LACE detail is to reduce crashes, however, police officers write the overwhelming majority of tickets in only a few “speed trap ” areas. If your reading this and you have ever received a ticket with a little pink sticker on it, I bet my next paycheck that you either received the ticket near the I-10 or I-210 bridges, I-10 between the 210 interchange and Hwy 171 or I-10 near the Pete Maneana exit to Westlake. As a matter of fact, the Trooper who “investigated me” was even known for working lace in that exact spot. However, he used a car that didn’t have a video recorder, as did most detectives and supervisors! So, I’m sure he will get away with his indiscretions. 

Would you like to guess why we did that in those locations? Because it was easy. Troopers get the required amount of tickets quick, steal your money, then watch movies on the side of the road. Which is exactly what I did and what I was arrested for (and I should have been arrested for)! 

A thorough and detailed investigation into EVERY Trooper in the entire state over the life of the LACE program will prove that I was far from the only offender. In fact, it is literally a common practice. A practice literally taught to me as a rookie Trooper. As a Trooper, you are taught to stop working an hour or two before shift! Every trooper worth his salt will tell you that they heard the phrase, “a good trooper is in his driveway by 3”! You better not break this rule and start making traffic stops after 3! If you did, you would be verbally reprimanded by your supervisors and your peers! 

The LACE program is the program with the spotlight, however, it is absolutely not the only program in existence. Take the overtime DWI detail for instance. Did you know that the DAs office pays police officers overtime to sit at DWI checkpoints? They don’t have to even show an arrest. They get to show up and participate a little bit then go home with your money. Of course, they say they are looking for insurance and other violations, but they specifically call it the DWI detail. As many as 20 cops will show up to these details and collect money then go home without breaking a sweat!! 

How about the seat belt detail?!? Bet you never heard of that one! Same story, you must get 2 seat belt tickets an hour to earn your overtime. The crappy thing, again, is, no one sits in areas high in crash statistics….they sit in Moss Bluff or Lake Charles or Westlake so they can catch you driving out of McDonald’s without your seat belt on! It’s literally the only way to even catch a seat belt violator because they are going slow enough for you to see! 

I know that I risk a backlash from the DA and the “system”, but it’s worth it to me! I can imagine “my brothers in blue ” will be quite upset with me, none of whom were standing in line behind me to admit their wrong doing while I was forfeiting my rights and taking my lick!

I can only tell you that I am truly sorry for being a part of a system that has failed you! I am truly sorry for allowing greed to control my actions as a person who was supposed to protect you from people like that! Who knows, maybe they silence me! Maybe you are ok with them sacrificing me as tribute to cover up a massive injustice! Or, maybe you say enough is enough and demand real change! 

I know I’ve typed a lot, and I have so much more! Maybe I will bore you more in the future! However, I urge you to share this story. Demand your constitutional rights be defended!

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Sometimes with local politics, you need a program, an organizational chart, a genealogical diagram, and perhaps even DNA data to keep up with who’s allied with whom and who’s got a vendetta against whom.

So much has been written about Iberia Parish Sheriff Louis Ackal that when another local courthouse politician finds himself in trouble, it’s natural to assume that Ackal’s name would come up somewhere in the mix.

After all, Ackal has been indicted and acquitted and there’s talk that the name on his office door may be changed from “Sheriff” to “Defendant.” The sheriff’s department has paid out judgments or settlements that equate to $23,000 per month for every month of his 10-year tenure ($2.8 million total), and that doesn’t even include the $600,000 settlement with the family of Victor White III, the 22-year-old who authorities said got hold of a gun and fatally shot himself in the chest—while his hands were cuffed behind his back.

Nor does it include the lawsuit just filed against Ackal and three of his deputies. The plaintiff, Rickey Roche, claims the deputies beat him and planted drugs on him during a retaliatory traffic stop following an altercation between Roche and one of the deputies. (Nary a word has been written by the local paper about this lawsuit, by the way.)

More on that later, but first the confusion surrounding the June 8 indictment of Iberia Clerk of Court Michael Thibodeaux by M. Bofill Duhé, the local district attorney who loves to indict people on BOGUS CHARGES.

The indictment on 14 criminal counts of perjury, racketeering, malfeasance, theft of advance court costs, filing false/altered public records was handed down by M. Bofill on the basis of an admittedly nasty INVESTIGATIVE AUDIT.

But the fact that the indictment came a full 20 months after the release of the October 2016 audit should raise eyebrows. And considering a blindfolded man could turn around three times and spit and most probably hit a legislative audit report at least as serious as this one which produced not even a slap on the wrist, and you really start wondering about the local political affiliations.

Among other things, the state audit said that from May 2013 to May 2016, the clerk’s office “improperly retained $314,495 in unused advance court costs that state law required to be refunded to the persons who originally deposited those monies. Of this amount, the Clerk of Court transferred $218,021 from the advance deposit bank account (advance deposit fund) to the Clerk of Court’s salary fund bank account (salary fund) to pay Clerk of Court salaries and other expenses. The remaining $96,924 represents monies currently in the Clerk of Court’s advance deposit fund that should be returned to the persons who made the original deposits.”

The misuse, misapplication, mismanagement and/or the misappropriation of more than $300,000 is a serious offense, one which should never be taken lightly and the DA’s office took the appropriate action in pursuing its own legal investigation once the audit came to light.

But the question must be asked: where was the DA’s office when prisoners were being abused and killed while in custody of Sheriff Louis Ackal? Yes, Ackal was indicted, but it was a federal indictment. Duhé was nowhere to be found.

But here’s Thibodeaux’s cardinal sin: Ryan Huval was an employee of the clerk’s office and Thibodeaux terminated him. The official reasons are not known and Thibodeaux is prohibited from discussing it because of privacy issues.

But the reasons, whether justified or not, don’t matter. Ryan Huval is the son of Ricky Huval.

Ricky Huval is the parish assessor and he was not happy with his son’s firing. And Ricky Huval and District Attorney M. Bofill Duhé are tight.

As a sidebar, unconfirmed rumor has it that certain property belonging to one Michael Thibodeaux might also have been reassessed by Huval’s office.

So, for a change, a local political story in Iberia Parish does not involve Sheriff Ackal.

But then, he has all he can handle with that latest lawsuit by Roche who says that after his confrontation with Lt. Col. Gerald Savoy the sheriff’s office targeted Roche with surveillance and pulled his vehicle over without probable cause. He says he was kicked, punched, choked and beaten with a baton and flashlight by then-deputies Byron Lasalle, Jason Comeaux, and Wade Bergeron and that they planted drugs on him.

All four deputies eventually were indicted for prisoner abuse, entered guilty pleas and testified against Ackal, who was acquitted.

Bergeron was sentenced to 48 months in prison while Comeaux received sentences of 40 and 30 months, Lasalle got 54 months on each of three counts to run concurrently, and Savoy was sentenced to 87 months in federal prison.

All this is not to claim either that Thibodeaux is guilty or that he’s as pure as the driven snow, but it is rather curious that Iberia Parish Sheriff Louis Ackal was never indicted by Duhé’s office for some of the transgressions he was accused of—little things like turning vicious dogs loose on defenseless prisoners or forcing prisoners to simulate oral sex with deputies’ nightsticks.

Here are a few other lowlights of the Iberia Parish Sheriff’s Office, as itemized in a letter to then U.S. Attorney General Loretta Lynch by U.S. Rep. Cedric Richmond of New Orleans, none of which attracted the diligence of Duhé’s office:

  • In 2005, a former inmate alleged that deputies beat him so badly when he was booked into jail that he had to spend two weeks in a hospital.
  • In 2008, a man alleged that a deputy beat him so badly during an arrest that he coughed up blood and then a muzzle was put over his mouth. The man later settled a suit with the Sheriff’s Office for $50,000.
  • In 2009, Michael Jones, a 43-year-old man who suffered from bipolar disorder and schizophrenia, died in the jail after an altercation with then-Warden Frank Ellis and then-lieutenant Wesley Hayes. This year, a judge ruled that two Sheriff’s Office employees were responsible for Jones’ death. The judgment in the case totaled $61,000.
  • In 2009, former inmate Curtis Ozenne alleged that officers began a contraband sweep by forcing him to remain in the “Muslim praying position” for nearly three hours. Mr. Ozenne alleged he was kicked in the mouth multiple times, threatened with police dogs and then his head was shaved. In his complaint, Mr. Ozenne also alleged that Sheriff Ackal threatened him with a dog and watched as an officer struck him with a baton for smiling. Mr. Ozenne’s suit against the Sheriff’s Office was later settled for $15,000.
  • In 2009, Robert Sonnier, a 62-year-old mentally ill man, died as the result of a fatal blow delivered by an IPSO Deputy in the course of a physical altercation. After Mr. Sonnier was unable to receive a psychological evaluation authorized by his wife, he was left in a wheelchair to stew in his own waste for several hours. He eventually became agitated which led to altercations with Deputies that resulted in Sonnier being pepper sprayed twice and eventually leading to the fatal blow.
  • In 2012, Marcus Robicheaux, an inmate at Iberia Parish Jail, was pulled from a wall and thrown to the ground as IPSO correctional officers ran a contraband sweep. A deputy’s dog then attacked Mr. Robicheaux, biting his legs, arms and torso, as the deputy stomped and kicked the prone inmate. The whole three-minute incident was captured on video from the jail’s surveillance cameras.
  • In 2014, Victor White III died as the result of a fatal gunshot wound while handcuffed in the backseat of an IPSO car. The sheriff’s deputies who arrested Mr. Victor (sic) alleged that he wouldn’t leave the car and became “uncooperative.” They say he pulled out a handgun, while his hands were cuffed behind his back, and shot himself in the back. However, the full coroner’s report indicated that Mr. White had died from a single shot to his right chest, contradicting the initial police statement that he had shot himself in the back.

But Duhé was right there when Ackal needed him to help shut up a New Iberia black man who initiated a recall petition after the Victor White shooting.

On July 8, 2016, Broussard was rear-ended by a hit-and-run driver In Lafayette Parish who minutes later collided head-on with an 18-wheeler and was killed in adjacent Iberia Parish.

Yet it was Broussard who was indicted on a charge of manslaughter by an Iberia Parish grand jury on March 19, 2017, just nine days before the seven deputies were sentenced.

So just how did Broussard find himself in Ackal’s crosshairs? On July 1, a week before the auto accident, Broussard committed the unpardonable sin when he became the impetus behind a recall of Iberia Parish Sheriff Louis Ackal.

Broussard, an African-American, was one of the organizers of The Justice for Victor White III Foundation which filed a petition on July 1 to force a recall election. White was the 22-year-old who died of a gunshot wound while in the back seat of a sheriff deputy’s patrol car in March 2014. The official report said the gunshot was self-inflicted. The coroner’s report said he was shot in the front with the bullet entering his right chest and exiting under his left armpit. White’s hands were cuffed behind his back at the time.

Ackal, of course, skated on that issue and was later indicted, tried and acquitted on federal charges involving beating prisoners and turning dogs loose on prisoners, as well. But when you’ve got retired federal judge and family member Richard Haik helping with the defense, you tend to land on your feet.

But hey, Ackal also didn’t fire Ryan Huval.

 

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This is the story of the “Mysterious X” that catapulted Jerry Larpenter into the Terrebonne Parish Sheriff’s Office way back in April 1987.

Going into the beginning of April of that year, Charlton P. Rozands was still the sheriff, but at that particular point in time, he was:

  • Under federal indictment;
  • Dying of cancer.

Rozands and his two sons, along with Chief of Detectives Aubrey Authement and deputy Elmore Songe were all INDICTED on charges ranging from malfeasance in office, improper removal of weapons from the sheriff’s office, unauthorized and illegal personal use of weapons being held as evidence, and the disposal of weapons being held as evidence but which had been in Authement’s possession.

In fact, the sheriff’s cancer was so advanced that he was said to have been heavily medicated on morphine that he was unable to be arraigned and could not perform the simplest of tasks.

ROZANDS DIED ON APRIL 19 (from the Houma Daily Courier)

Six days before his death, on April 13, Larpenter signed the required OATH OF OFFICE oath of office as Rozands’ Chief Criminal Deputy.

On the second page of that document, in the left-hand margin, is the signature, “C.P. Rozands, Sheriff.”

Except it’s not Rozands’ signature. A comparison of that signature with a document actually signed by Rozands makes that point abundantly clear.

COMPARE SIGNATURES

Several people who were in positions to know have told LouisianaVoice that Rozands would have been physically unable to sign anything because of the advanced stages of his cancer and because he was heavily medicated with morphine. What is not clear is who actually signed his name.

In fact, at some point prior to Larpenter’s signing his oath of office, sources tell LouisianaVoice that a meeting was held to discuss a successor. Said to have been at that meeting were Rozands’ wife Mae, his two sons, and Houma attorney William F. Dodd, legal counsel for the sheriff’s office. He remains the sheriff’s legal counsel today.

The meeting was held to discuss the succession to Rozands who by this time obviously near death. At the time, 1987, state law allowed an official’s widow to assume his seat but Mrs. Rozands let it be known she wasn’t interested in the job. Nor were either of their sons.

The choices were quickly eliminated until there was only Larpenter who, when asked, said he would take the job.

The affidavit was quickly drafted, presumably by Dodd, that named Larpenter as Chief Criminal Deputy, which would make him next in line for the office of sheriff.

But to make the appointment official, Rozands was required to sign it. With him unable to affix his signature, he supposedly signed with an “X.”

But did he? One person close to the series of events said, “I don’t think Rozands would have waited until he was that sick to appoint Jerry Larpenter. They were close, but I think if Rozands had wanted Larpenter as his Chief Criminal Deputy, he would have appointed him while he was well enough to know what he was doing.”

Besides the job promotion and salary boost that came with Larpenter’s ascension into the sheriff’s chair, it also gave him the decided advantage of running as an incumbent in the next regular election only months away in October 1987.

In that election, the incumbency proved beneficial, all right. Larpenter, running against eight opponents, got a whopping 44 per cent of the vote, a full 30 points of his closest competitor, who got 14 percent. In the November runoff, he received 69 per cent of the vote to win his first of seven terms, interrupted only by his unsuccessful run for Parish President in 2007.

Each one of his elections—he was unopposed in 2015—were won by wide margins.

But the details of how he went from obscure deputy to sheriff for those few months in 1987 remain murky and clouded with questions of whether Rozands actually scrawled that “X” or it was done by someone in his name.

It’s almost as big a mystery as that entry in Larpenter’s campaign expense report. He lists an expenditure of $15,400 to an outfit named WEBCORP in Missouri for bulletproof vests for the sheriff’s department.

It’s awfully magnanimous of him to spend his own campaign funds to purchase equipment for his deputies—especially when Web Corp isn’t in the business of bulletproof vests. It’s an Internet web-building company.

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He probably won’t make the formal announcement of his candidacy for governor until September or October, but make no mistake about it, U.S. Sen. John Kennedy is in full campaign mode. If there had been in lingering doubts before, that much was made evident Wednesday by his inappropriate yet totally predictable CALL for Robert Mueller to end his investigation of the man on whose coattails Kennedy ran for—and won—his senate seat.

This was more than Kennedy’s typical down-home, cornball, Will Rogers country feed store philosophy that he is so proud to bestow and which TV reporters are so eager to foist upon their viewers. This was pure, old-fashion political sycophancy at its very worst.

Someone recently said the most dangerous place in Washington was to stand between Kennedy and a TV camera but his toadyism is both shabby and shameful in its transparent attempt to please Donald Trump and to cash in on Trump’s inexplicable popularity with Louisiana voters.

Inexplicable because everything—and I mean everything—the man stands for goes against the interests of the most vocal of his supporters. All you have to do to verify that claim is to compare his record with his actions. Instead, his supporters choose to listen to his rants and to read his sophomoric tweets which stand in stark contrast to his official actions behind the scene:

  • Safe drinking water? Who needs it?
  • Consumer protection? Why?
  • The former head of the Bank of Cyprus, a leading conduit for Russian money laundering is now Secretary of Commerce so you do the math.
  • Medical care? Hmph.
  • Employee benefits like pensions and overtime pay? Nah.
  • Net neutrality? Don’t need it, don’t want it, can’t use it (besides, that was an Obama policy so, out it goes).
  • Tax reform? You bet—for the wealthy.
  • Protection of endangered wildlife? Hell, there must be a hundred species of animals out there. That’s way too many.
  • Banking regulations to avoid another recession like we had in 2008? Just signed off on the rollback of Dodd-Frank, thank you very much.
  • The head of EPA is less concerned about protecting the environment than in enriching himself with European vacation trips on your dime and installing $45,000 soundproof phone booths in his office and blaming his staff whenever he gets caught wasting taxpayer funds.

Nixon was a crook, Lyndon Johnson lied us into an unwinnable war that cost 58,000 American lives, Bill Clinton had a basketful of scandals, and George W. Bush lied to us about Iraq’s weapons of mass destruction, but I daresay Trump is far and above the biggest crook—and the most ill-prepared to be president—who ever occupied the Oval Office. There will be those who will deny that to the death, but it doesn’t change the facts.

And before you call me a wild-eyed liberal or something worse, keep this in mind: I was a Republican longer than a lot of you have been alive. I was a Republican when we could caucus in a telephone booth. But I didn’t leave the party, it left me. It took me a long time, but I finally saw what the Republican Party stood for and it wasn’t for any of the things that I learned from the Bible—things like charity, understanding, kindness, compassion, taking care of the sick, and feeding the hungry. You know, Christian virtues the evangelicals claim to espouse but who instead turn around and condone, encourage even, the most unchristian behavior imaginable. We call that hypocrisy where I come from.

At various times, Trump has:

  • Told us not to the trust the FBI;
  • Told us not to trust the Justice Department;
  • Told us not to trust the free press, and
  • Told us not to trust the courts.

These are the only institutions that can hold him accountable and he is trying to undermine every single one of them. If that doesn’t worry you, it damn well should.

So, in order to appease Trump and his followers in Louisiana, and apparently in order to solidify his support for a gubernatorial run in 2019, Kennedy slobbers all over himself in calling for Mueller to end his investigation “because it distracts in time, energy and taxpayer money.”

And Trump’s governance by tweets is not a distraction? His constant reversals of positions are not a waste of time, energy and taxpayer money?

Trump reminds me of an editorial cartoon I spotted this week:

  • He doesn’t believe the intelligence agencies;
  • He doesn’t support the rule of law;
  • He doesn’t support the special counsel;
  • He doesn’t support the mission of federal regulators;
  • He doesn’t support the right to demonstrate peaceably;
  • He has no concern about the integrity of fair elections;
  • He doesn’t care about the “huddled masses.”

Hell no. He’s a true patriot.

And Kennedy is sucking up to him in grand fashion.

Kennedy, you cited a laundry list of things that need to be done. I seem to remember that when you ran for the senate, there were things you were going to work for. But now it seems you are beginning to “distract in time, energy and taxpayer money” by running for governor when you should be doing your job—kind of like the way you criticized Bobby Jindal for running for president when he should have been tending to his job as governor. You sounded so sensible when you criticized Bobby for not doing his job and yet…

But just for the sake of argument, let’s compare the distraction that you claim the Mueller investigation of one year—one year, John—has become with past INVESTIGATIONS investigations and the presidents. We’ll start with the granddaddy of ‘em all:

  • Watergate (Nixon): 4 years, the resignation of a president and more than 20 indictments/pleas;
  • Michael Deaver perjury charges (Reagan): A shade over three years and one indictment;
  • Iran-Contra (Reagan): six and one-half years and 14 indictments/pleas;
  • Lyn Nofziger improper lobbying (Reagan): About 16 months, two indictments/pleas;
  • Samuel Pierce influence peddling (H.W. Bush): Almost nine years (and he was only in office for four): 18 indictments/pleas;
  • Whitewater/Paula Jones/Monica Lewinski (Clinton): Seven years, 15 indictments/pleas, impeachment of a president (acquitted);
  • Mike Espy gifts (Clinton): Seven years, 13 indictments/pleas;
  • Henry Cisneros perjury charges (Clinton): Nine years, 8 indictments/pleas;
  • Alexis Herman influence-peddling (Clinton): Two years, one indictment/plea;
  • Valerie Plame leaks (George W. Bush): Three years, one indictment/plea;
  • Russia (Trump): One year, John, just ONE YEAR, and more indictments/pleas already than you can count.

In case you weren’t counting, John, that’s four separate investigations costing $80 million during Clinton’s administration. I’m not saying they weren’t warranted because they were. But I don’t recall anyone ever saying those investigations should’ve been shut down.

So, John, why don’t you read up on Will Rogers, do a few more hominy and grits folksy quotes and leave the real work to those charged with doing the job?

Or maybe come up with another ad about drinking weed killer for your gubernatorial campaign.

 

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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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