Posted by: drgeophysics | May 2, 2010

Fraudonomics: 10 Fun Fraud Facts

I found this article linked into the sideshow.uk; an excellent site, check the link on the right side of this page.

…wherever there are still signs of economic life beating in these 50 United States, the mere whiff of scrutiny would work like nerve gas on what’s left of the economy. Because in the 21st century, fraud is as American as baseball, apple pie and Chevrolet Volts–fraud’s all we got left, Doc. Scare off the fraud with Obama’s “scrutiny,” and the entire pyramid scheme collapses in a heap of smoldering savings accounts.

Here is the link, I suggest carefully reading this. In this area the school systems and state government system are in big trouble with respect to pensions.  The unstated point is that pensions “drank the poison deeply” that they could place retirement money in the stock market and stock could raise at 8+% a year forever.  No one is discussing this underlying FAIL by the federal, state and local governments to act responsibly (can you say 401K?).

In an unrelated topic, the Attorney General of Virginia has seriously lost his mind.

No one can accuse Virginia Attorney General Ken Cuccinelli of shying from controversy. In his first four months in office, Cuccinelli  directed public universities to remove sexual orientation from their anti-discrimination policies, attacked the Environmental Protection Agency, and filed a lawsuit challenging federal health care reform. Now, it appears, he may be preparing a legal assault on an embattled proponent of global warming theory who used to teach at the University of Virginia

Here is the story. In addition to fighting the federal government for clearly political reasons (while being paid by the people of Virginia), he has also attempted to change the appearance of the Seal of Virginia.  Here is the amazingly stupid story.

When I was a young man the Attorney General used to enforce the law and arrest criminals.    There are many states with similar political jokers at the AG level.  The guard dogs are licking the boots of the burglars.

An excellent orchestral composition below.

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