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Gov. Walker's WEDC "Loses" over $8 Million in Loans

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Gov. Walker's WEDC "Loses" over $8 Million in Loans

Postby david cohen » Thu Oct 18, 2012 3:37 pm

Un-flipping believable! Walker is the Chairman of this quasi-governmental agency, at his own insistence, and hasn't a clue where the money went.

http://host.madison.com/wsj/news/local/ ... 963f4.html
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Re: Gov. Walker's WEDC "Loses" over $8 Million in Loans

Postby minicat » Thu Oct 18, 2012 4:14 pm

It's probably offshored for when Walker has to run as the federal indictments come through.
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Re: Gov. Walker's WEDC "Loses" over $8 Million in Loans

Postby Henry Vilas » Thu Oct 18, 2012 6:34 pm

Walker just now calling for "drastic changes" in the WEDC is a classtic case of closing the barn door after the horse escapes.
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Re: Gov. Walker's WEDC "Loses" over $8 Million in Loans

Postby snoqueen » Thu Oct 18, 2012 7:07 pm

It's not just that the horse "escaped." As soon as he got into office, Walker started handing out state funds to friendly businesses with no oversight, very little in the way of procedure, and no follow-up. He basically raided the treasury and passed out money to his friends and allies. With little or no chance at clawback (or whatever you want to call it) he doesn't care how much squealing he hears now.

He's probably sitting in the back seat of his limo laughing right now.
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Re: Gov. Walker's WEDC "Loses" over $8 Million in Loans

Postby david cohen » Thu Oct 18, 2012 8:24 pm

Quick, let's get the Capitol Police on the case! The Keystone Cops could find the money quicker.
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Re: Gov. Walker's WEDC "Loses" over $8 Million in Loans

Postby DCB » Fri Oct 19, 2012 10:41 am

Its almost as if the WEDC was set up specifically to eliminate transparency and enable crony capitalism.
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Re: Gov. Walker's WEDC "Loses" over $8 Million in Loans

Postby peripat » Fri Oct 19, 2012 11:08 am

I really don't get why this surprises anyone- after all the whole focus of republican politics has been welfare for the rich and laissez faire capitalism for everyone else....business as usual, no?
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Re: Gov. Walker's WEDC "Loses" over $8 Million in Loans

Postby Henry Vilas » Fri Oct 19, 2012 11:26 am

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Re: Gov. Walker's WEDC "Loses" over $8 Million in Loans

Postby jman111 » Fri Oct 19, 2012 11:38 am

The state's battered economic development agency has hired a private consulting company to help find a new leader and remove political influence from the hiring process.

QTI will help WEDC get the best candidates from across the nation and help identify the five whose names will be forwarded to Republican Gov. Scott Walker, who is expected to pick a new leader early next year.

emphasis mine
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Re: Gov. Walker's WEDC "Loses" over $8 Million in Loans

Postby Henry Vilas » Fri Oct 19, 2012 3:01 pm

david cohen wrote:Quick, let's get the Capitol Police on the case! The Keystone Cops could find the money quicker.


This just in:
No one was injured after a Capitol police officer accidentally fired his weapon inside the security office at the Executive Residence Thursday night.
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Re: Gov. Walker's WEDC "Loses" over $8 Million in Loans

Postby Madsci » Fri Oct 19, 2012 3:59 pm

Did the Capitol Cop put his gun in the oven?
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Re: Gov. Walker's WEDC "Loses" over $8 Million in Loans

Postby Endo Rockstar » Fri Oct 19, 2012 4:24 pm

Madsci wrote:Did the Capitol Cop put his gun in the oven?


Seriously. How in the hell?

Image

-Dan Motor
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Re: Gov. Walker's WEDC "Loses" over $8 Million in Loans

Postby Henry Vilas » Fri Oct 19, 2012 4:37 pm

More bad news:
$69M in state loans were not tracked

The state's quasi-public economic development agency lost track of $69 million in loans to businesses because no one was in charge of keeping tabs of that money.
...
Of the $69 million in loans, about $9 million are past due or in default.
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Re: Gov. Walker's WEDC "Loses" over $8 Million in Loans

Postby Stu Levitan » Fri Oct 19, 2012 6:44 pm

This should be an issue from now until 2014. Any Walkeristas want to defend this?
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Re: Gov. Walker's WEDC "Loses" over $8 Million in Loans

Postby snoqueen » Fri Oct 19, 2012 6:53 pm

If anybody doesn' t understand why a professional, properly-compensated, and well-structured bureaucracy is essential to governmental function and continuity through all the changes of electoral politics, well, this is why.
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