Well, well, well has it really come down to this? Are we so stuck on stupid that we just gladly accept anything put before us as legitimate? Or that the act in question is in compliance as required by Law regardless that it lacks any common sense? The other day I took a meeting with a former associate and friend from Real Estate and we had a very enlightening conversation. I shared several of my views with him and as one might guess the subject matter we covered was a wide one. Now as we all can be I needed some reassurance that my research and concerns were valid and had value, so I was seeking confirmation. My friend comes from a family in Government since his Father was a former Lt. Governor back east and his brother is a prominent lobbyist in Washington D.C., and him being a former Attorney. So I always enjoy our conversations and learning what ever I can from him, I’m always picking his brain. If I had to say our conversation had a theme it would be the lack of accountability by our government. Far worse than that though is the lack of any real demand by the American Public for this much needed accountability. So after our meeting that he had requested regarding Real Estate I left with more concerns than I started out with if you can believe that? Accountability seams to be the subject matter on a lot of peoples minds these days and we seam close to a new awakening in this Country. Yet we are just not quite there, still needing some kind of incident or disclosure to get a real movement going. I am talking about something so controversial that everyone will feel one way or another about and the perfect example of that would be the actions in Arizona Government. So much has been written about so little it boggles my mind. Since we have a possible ceiling of 24 Trillion dollars to be spent in regards to our economy through TARP (Troubled Asset Relief Program) and yet I hear 20 to 1 more comments on Immigration than I do the future of our economy. To view an excellent source of information regarding our economic bail out and Wall Street crimes visit Judicial Watch @ http://www.judicialwatch.org/financial-crisis .
Let me share a few quick notes from some recent news press stories and than get back to some more disturbing news regarding the Santa Barbara County Pension Fund. This is from the Los Angeles Times dated 06/24/10 and the head line reads “New- Home sales drop 33% in May”. “Sales of newly built U.S. homes collapsed in May”. Now why would we use this data as any sort of economic indicator in the first place? Do we not currently have a surplus of available homes due to the Wall Street abuse of the American Public and foreclosure’s? Let’s talk straight for a moment; it took another artificial act from our Government to even cause the temporary spike in New Home sales in the form of a tax credit. So I guess my question is this, are we to believe we can fix things going and coming in regards to real estate at the same time? OK moving on to the next headline and it is again from the Los Angeles Times dated 07/16/10 and it reads “ Financial reform gets Senate OK” “ Passage of the bill is a major victory for Democratic leaders and Obama”. I am sorry but I thought this was a victory for the American Public assuring us we are now better protected from Treason by the many players of Wall Street against our economy and way of life.
So we have financial reform, but do we really? Have we really improved our security in regards to Finance or banking as one would like to have us believe? During my meeting the other day I was informed that there was already a sound business code in place and had been so since 1892. The Uniform Commercial Code, although not that well-known. What is the U.C.C.(The Uniform Commercial Code) and purpose? Overall, the code’s objective is to eliminate the need for lawyers in the aspects of commercial trade it governs. The topics specifically addressed in the 11 articles of the Uniform Commercial code include the sale of goods, bank instruments, negotiable instruments, letters of credit, bills of receipts, bulk transfers, investment securities, and secured transactions( sounds like aspects of Wall Street). My point is this did the U.C.C. require the same attention, reform and restructure as caused by Wall Street to our banking and finance laws? If not than please answer me why not, don’t you think we should compare the two? I wonder if the attempt to exclude the need for an Attorney has anything to do with leaving the U.C.C. alone.
So one might be wondering what is the tie inn to the abuse I feel is being committed by our own County Government officials here in Santa Barbara and the media I used as an example above. Well let me share a couple of headers from the report below that was recently prepared for the State of California in part two of this posting. To be continued.