I could get a big fat scholarship to go to political cartoon college!
No, in fact that's only a dream. Back to reality.
I have a plan that is good for everyone, liberal or conservative, as well as New Hampshire in general. It is so simple I can't believe it hasn't been thought of by anyone else yet.
We all know Tyco Corp. was forced to pay NH $5 million dollars for “ethical violations” in our state. I stumbled across some blurbs about it in the news. Then I found this in the NH Bar magazine:
“In October 2002, New Hampshire’s Bureau of Securities entered into a settlement agreement with Tyco International, Ltd. to resolve allegations about violations of state securities laws and corporate wrongdoing. The settlement was in the amount of $5,000,000.
In September 2003, the Bureau of Securities announced the creation of the Center for Public Responsibility and Corporate Citizenship, a nonprofit initiative designed to increase ethical behavior in the corporate world. Mark Connolly, the Director of the Bureau, and his staff deserve high praise for securing the settlement and using the funds to advance good governance.”
So where does the money for “good governance” wind up you ask? Read this news release:
“The Center for Public Responsibility and Corporate Citizenship has awarded the New Hampshire Jump$tart Coalition a $250,000 grant to develop an Investor Curriculum for high school students in the Granite State.
The Center was established as a result of a $5 million securities settlement with the state Bureau of Securities Regulation for the purpose of promoting investor education and sound corporate governance.
NH Jump$tart Receives $250K from Center for Public Responsibility & Corp. Governance NH Jump$tart President Daniel Hebert said, “We are honored to receive this award and look forward to working with our members from the investment arena as well as our teacher base to develop an effective curriculum that will be embraced by teachers and beneficial to NH students. He added, “As a truly all-volunteer organization, NH Jump$tart has no paid staff or office space, so financial support goes to the delivery of these, and other training and outreach activities. The cost of financial education
isn’t cheap, but it is a fraction of the cost of correcting financial mismanagement.”
William Gardner, Secretary of State and Chairman of the Center’s Board of Directors, said, “We are pleased to partner with NH Jump$tart to promote financial literacy to young adults. NH Jump$tart has demonstrated an effective ability to focus public awareness in this area and has attained a great deal of respect within the educational community. The Board is committed to investor education and we recognize that this education begins with our youth.”
So lets sum this up.
Tyco Corp. gets caught in a sticky situation possibly defrauding NH taxpayers/citizens and our Securities and Exchange Commission directs taxpayer dollars at relieving the problem by negotiating a deal where no white collar criminal serves time but a payoff is made to the state instead. Got that part, white collar crime does pay and there is no punishment.
Then a person is chosen to distribute this $5 million and it winds up being our old friend Secretary of State Bill Gardner. No surprise.
Next of course, because Tyco may have defrauded NH citizens/taxpayers, the “fine” is dumped into the NH education system via a non-profit who has little oversight. Standard operating procedure. (See Endowment For Health and their $80 million slush fund.)
So basically, we have a shadow tax system going here. Take from the rich – give to your pals. All under the umbrella of public service of course.
Back to my brilliant idea.
If this money was acquired for the purpose of promoting ETHICS in NH, how about a tiny little grant to The Coalition of NH Taxpayers of say about $250,000.00? Just a shot of seed money to promote ETHICS, of course!
I have a plan for cleaning up elections in NH, where thousands of non-residents have been allowed, by lack of prosecution, to vote here each election cycle. CNHT has been diligently documenting cases of voter fraud and the failure of the state to prosecute since 1996.
Why not a cash settlement with the offenders? Knock on their dorm
excuse me door and ask for a $1,000 cash settlement instead of a prosecution.
CNHT is a non-profit. You could lateral the cash over to us just like this Jump$tart outfit.(What a name, eh)
Come on Bill do the right and ETHICAL thing!
Ed Naile, Chair CNHT