Day: October 17, 2005

Why is it news when our government mismanages our money?

Roughly $1 of every $5 in loans the Small Business Administration directly made to companies hurt by the Sept. 11 attacks has fallen into default, leaving the government with an uphill effort to recover millions of dollars in taxpayer money.

The agency is just now learning about the magnitude of businesses that went under or stopped making payments. Its Sept. 11 direct disaster loan program often gave recipients two years before their first payments were due, according to documents reviewed by The Associated Press.

$245 million is in default. Now you’d think the business that received these loans were based in New York City right? Wrong.

Taxpayers are picking up the tab for a $992,000 loan made to an Atlanta hotel; $986,000 to a Florida boat dealer; $620,000 to a Maine broccoli farm; and $38,900 to a Lubbock, Texas, computer store.

$620 grand for a broccoli farm – I guess Americans just couldn’t eat the vegetable after the events of 9/11. Makes perfect sense to me. Heh.

The SBA loan programs received increased scrutiny from Congress and elsewhere after an AP story in September disclosed that some companies with Sept. 11 relief loans from banks under the STAR program weren’t harmed by the attacks and didn’t even know their money was being drawn from the program.

Oh, you mean like the loan made to the Utah dog boutique, and the perfume bar in the Virgin Islands? Puhleeze.

The SBA says that while some loans might have been made in haste, the agency is vigorously prosecuting people who obtained tax dollars or loan guarantees under false pretenses.

When they can find them, of course.

This is just another example of a broken government agency. Who is going to clean this one up? Who is going to be fired over this waste? Who is going to pay?

Me and you, that’s who.

It looks more like that thing that sits on my desk holding pencils and pens.

Nonetheless, welcome back.

And counting.

Gateway Pundit has coverage of the latest on the devastation in Pakistan.

Jeff, I do too.

Lynne Cheney says the Vice President will not run for the White House in 2008.

The ‘Millions More March’ came to the National Mall in Washington, D.C. over the weekend, and according to estimates by various organizations, the millions predicted to show, didn’t. In fact, the event should have been billed as the ‘little over a half a million’ more march. The movement, whose goal it is to promote unity, spiritual values, education, economic development and political power amongst Black peoples and organizations, might be better described as a protest led by the Nation of Islam and its enigmatic leader Louis Farrakhan. In many ways, the Millions More Movement has been hijacked by Farrakhan and as a result of their overwhelming presence, this organization tends to focus its energy more toward rallying anger over complaints of Black discrimination and less emphasis is put on uplifting messages that provide positive solutions.

During his 75 minutes at the podium, Minister Farrakhan’s performance included a segment he has become particularly well known for – the promotion of conspiracy theory as fact. This time, the soapbox he stood upon focused on Hurricane Katrina and it’s vengeance on the Black community. He dished out plenty of red meat to the hungry crowd.

Railing against the delayed relief for victims of Hurricane Katrina, Nation of Islam leader Louis Farrakhan said Saturday that the federal government should be charged with “criminal neglect of the people of New Orleans.”

“For five days, the government did not act. Lives were lost,” Farrakhan said at the 10th anniversary of the Million Man March. “We charge America with criminal neglect.”

Although he didn’t mention it explicitly during his speech, Farrakhan has been pushing the notion that levees surrounding New Orleans were intentionally blown up by the US government so as to direct flood waters toward communities housing large percentages of Blacks. They did this, he says, to save profitable neighborhoods, like the French Quarter, and businesses owned by Whites.

“I heard from a very reliable source who saw a 25 foot deep crater under the levee breach,” Farrakhan explained. “It may have been blown up to destroy the black part of town and keep the white part dry.” 

Followers of Farrakhan grasped upon this wild idea and have peppered their dialog with the accusations since September. Influential Black leaders have picked up on this theme as well, and many Blacks have accepted this idea and believe it to be the truth.

Jesse Jackson, the president of the Rainbow/PUSH Coalition, urged people to channel their frustration about Katrina toward change in their communities. He also told the crowd that “a barge in the canal hit the levee and the waters came rushing in,” but he did not elaborate on whether he believed this may have been deliberate.

This kind of message is irresponsible. It overshadows demonstrations like this, and limits any positive outcome hoped for by organizers. More importantly, solutions to core problems experienced by the Black community take a back seat. Wacko conspiracy theories make national headlines, and no forward movement can take place. So long as Farrakhan and his disciples occupy Black territory, the hopes and dreams of ending discrimination against Blacks become less attainable, and their shackles remain locked.

If Black leaders really want to improve the quality of life for Blacks in this nation, they must end this hostage situation and wrestle control of the message away from Louis Farrakhan and his Nation of Islam.