- no competitors;
- diffuse, small shareholders;
- who cannot sell or buy shares;
- run by managers exempt from securities laws, like Sarbanes Oxley,
- with no disclosure requirements, so shareholders learn only what managers choose to tell them;
When Congressman Cooper held hearings trying to force the coop managers to disclose information about their assets, they tried to intimidate him. For good reason
The hearing focused on the lavish spending by and large salaries of leaders of the Pedernales Electric Cooperative in Texas, the largest electric cooperative in the country.
hmmm, something telle me you would be the first to yell screaming about FISA nad unauthorized access to people's personal information.
ReplyDeleteWait a sec, now that the ObaMessiah has flip-flopped on over to support FISA, you probably are all for it. So I stand corrected, you are probably for Rep Cooper's alleged illegal, unauthorized intrusion into people's affairs.
Nevermind
Man, it's hilarious to see people who have been obsessed with FISA and government tracking of terrorist phone calls try and side step this outrageous abuse and illegal act of spying by a sitting US Congressman.
ReplyDeleteCongressman Cooper, a lawyer, is well aware he's been busted violating the federal "Computer Fraud and Abuse Act", and he admitted it in a lame attempt to try and throw the people who gave it to him under a big double wide bus.
* Knowingly accessing a computer without authorization in order to obtain national security data
* Intentionally accessing a computer without authorization to obtain:
* Information contained in a financial record of a financial institution, or contained in a file of a consumer reporting agency on a consumer.
* Information from any department or agency of the United States
* Information from any protected computer if the conduct involves an interstate or foreign communication
and
Knowingly and with the intent to defraud, trafficking in a password or similar information through which a computer may be accessed without authorization.
AND
The so-called people who gave him user name and password (who appears to be missing now that he's tried to throw them under a bus) have not sought whistle blower status, it was their move to "access" any information.
Cooper looked at private financial data and then downloaded and published it.
Defending this action is pathetic. Imagine a Republican congressman just illegally logged onto the ACLU and downloaded all their donor info or payment schedules. Yeah, y'all would be so OK with that.
What a joke.
What would you expect from a firm with:
ReplyDeleteno competitors;
diffuse, small shareholders;
who cannot sell or buy shares;
run by managers exempt from securities laws, like Sarbanes Oxley,
with no disclosure requirements, so shareholders learn only what managers choose to tell them;
So what you're saying is, Electric CO-OPS model themselves on how Congress runs itself.
I mean, that was your point, right?
I'm with Anonymous 4:46. I was totally expecting a libertarian indictment of government.
ReplyDeleteSounds to me like the Co-ops run themselves like the teachers unions in Michigan. May I assume you'll go after that bunch next? They cut themselves some sweet, sweet deals. And the paying customers (er, Michigan taxpayers) get nothing but the bill. (Well, in Detroit they get a 25% high school graduation rate, but I don't hear much cheering about that one.)
ReplyDeleteI support Cooper's quest to follow the money in these co-ops. What could possibly be the harm?
ReplyDeleteAt last a Democrat with the guts to do the right thing.