Lehigh Valley Conservative

1. Increasing complexity
2. Loss of control
3. Lack of regulation

The above three changes in the financial markets are the most important events in the last decade and must be looked at closely for the citizens of Bethlehem, Pa. to understand what has happen to them and their school board.  These factors continue to force the guidance of the political maneuvering through ignorance on the school board.

Swaps and derivatives had become part of the order of business even though the school board knew nothing of how they worked.  The Banking Industry and Wall Street used financial engineering to manipulate earnings and complexity of the market place and that became the mechanism to avoid regulation thereby having no control over them and the buyer beware should have been the caution but it was lost in ignorance, so we have, control and caution both flying out the window with stupidity and greed being the guide.   .

A dangerous situation at best because the wall street rocket of deception and money making schemes had long left the common folks; who were trying to run the business of the school districts in the dust.  The school board had no idea what was happening and never realized they were only the pawns of manipulation to be used in the game of Wall Street Bankers making money.  The school boards never realized that Wall Street and the Bankers made money by keeping a percentage of the bet. (IE: Swaps and derivatives, which do not have a real tangible asset backing the transaction, and is a very complicated pyramid scheme of packaging so called assets)  The deceptions of, the Bankers, the Lewis’s, and the Majewski’s of the school districts around the country was never realized by those boards.

This simple lack of understanding and the fact that the sheep trusted the leaders is where the fault lies. Whether there is a law on the books whereby the citizens can seek re-dress remains to be seen.  What has been shown is this, a grave injustice has been done and there appears to be no path of correction or way to punish the wrong doers.  Which brings us (the tax payer) to an interesting point in the process.  Now that we have discovered the injustices the question must be asked is the method of governing (the elected school board) sophisticated and modern enough in structure to handle the needs of the citizens.  I have witness and been at enough school board meeting to draw the conclusion, that it is not.  It has as a governing board no avenue to assert leadership and is in no way a body that is representative of the taxpayer, and is not a controller of the taxpayers revenues, regardless of what you might think of their budget process.

I have heard more then once “We are here for the welfare of the Child” hearing it just last night at the School Board meeting.  And of course I must ask, exactly what does that process entail besides “Tax and Spend” and second “If in fact they do represent the children, who represents the tax payer in this mess?  We are bordering on a situation were we have “Taxation with out Representation” a very dangerous situation.

We Shall See and I do believe shortly.