Wednesday, December 23, 2015

Didn't Know He Was Still Around

        The interest rate will be reduced on the remaining restitution embezzled from Jefferson County thirty years ago by then Treasurer Ken Rogers.   There is still $27K left. The matter came up when an inquiry was made about forgiving hte debt, according to reports.
        I vaguely remember the scandal, but didn't know there was a debt still out there. If the county really was getting 9% on the principle all these years, that was a good return.
http://www.watertowndailytimes.com/news03/jcida-committee-recommends-dropping-interest-rate-on-ex-treasurers-embezzled-debt-20151223

5 comments:

Anonymous said...

Everyone involved in this chicanery needs to be removed immediately. Dare I ask what party affiliations these appointed JCIDA members claim? Cronyism no doubt.

Anonymous said...

Make bad loans, don't get paid, take what few assets are left (if any) and write the rest off.

Get stolen from and try to write-off a debt that is being serviced. If not allowed, reduce the interest rate.

Here is a quick solution that should work with this blew-ribbon board: Have Rogers apply for a loan for a non-existent business plan, he pays off his restitution, JCIDA writes off the new loan years from now. Everybody good except the taxpayers. But they don't matter.

How do these people stay on?

Merry Christmas.

Anonymous said...

You have great 20/20 hindsight mayor. If the interest rates had went up to where they would be under a Carter presidency, would we be revisiting the interest rate to increase it? Of course not.

Anonymous said...

But in true county fashion didn't his son get a job with the county? A true representation of what is wrong with Govt. Heary should be fired for not knowing they cant excuse the debt. oh wait he's one of the crowd.......

Anonymous said...

Love Don;s quote in the paper on new regs for IDA loan applications: "Clawback stuff". A revelation.

And why don't they share performance information with the Board? How can the Board know if their reviews are effective after they grant loans? Oh, wait, they know they are effective simply by virtue of who they are...

What the state needs to do is take over the whole process and throws the IDAs out. Oh , wait, where would they get their pensions... And who would pay for their fruit plates?