The Boardroom Trail to the Talisman

OPINION BY The Arrowflinger

Talisman – an object held to act as a charm to avert evil and bring good fortune.

The revelation to the American public that its establishment media is biased, lazy, and protective of their turf surely by now must extend to the Augusta contingent of “recognized” media. After all, activists brandishing Georgia Open Records Requests and publishing their own stories reinforced by documents offering obvious proof got too big to ignore between 2011 and 2013.

By 2014, you might think their “professional” inquisitiveness would have taken hold, but the Metro Spirit took resolute opposition to perceived competition to extremes. When the reformers started investigating the Reynolds Street Parking Deck boondoggle the Metro Spirit cover was one of black helicopters over the deck. Somehow, they later were acknowledging the discovery of liens on the property under the parking deck as common news. There is no way they would admit that the City Stink blog systematically awoke Augusta to such a ridiculous circumstance without THEM! The exception was Metro Spirit Writer and radio talk show host Austin Rhodes occasionally would provide some coverage to the alternative media, most recently with the absurd Tractorgate Scandal that saw Augusta men and Equipment secreted three counties away for work on private property of an ex-Augusta contractor.

The Columbia County Commission meeting of May 6, 2014 was covered by Spirit reporter Eric Johnson, who promptly disregarded the directly presented challenge to then Finance Committee Chairman Ron Thigpen’s bonus with Georgia Bank and Trust. That bank was awarded a highly irregular mass banking deal with the county, with Thigpen recusing himself from the commission vote.

Instead Johnson decided to interject his own bias and implied that the real subject was instead Chairman Ron Cross, then up for reelection. The acknowledgement of all of our enhanced “time and attention on this stuff” was very true, however. He even got handed key documents in the hope that he would pick up on the story. No way Jose.

Collateral Metro Bank

Astounding. Georgia was number one in mortgage fraud in the USA for 5 years from 2000 to 2004, leading to a tsunami of bank failures in 2008 through 2010, losing 1/5 of the state’s banks, yet NOBODY can come to suspect any alligators in their local banking swamp. The “media” ad sales blindfold “reporters.” “Their” advertisers cannot be corrupt because they pay the media’s way.

What the Spirit’s Johnson blew off was a chance to investigate how Columbia County’s cash infusion into his bank may have boosted Thigpen’s bank bonus. Had he pursued it he might have found the Talisman. From there an epic of financial gamesmanship might have been his prize!

In this burgeoning saga, the Talisman is a man, recently the United States Attorney for the Southern District of Georgia, Mr. Edward J. Tarver. When the bank executive compensation contracts were changed for 2008 and 2009, before his appointment as US Attorney, Tarver sat on Georgia Bank and Trust’s Audit Committee. (Page 23)

For the bank, Tarver had to do absolutely nothing to ward off scrutiny from investigators. All he had to do was sit in his office. Mr. Tarver is a fine man by all accounts and is respected but the simple fact is that he could be a cross between Nelson Mandela and Billy Graham and be the Talisman. Common sense says that one look at documents signed by Tarver or approved by his bank audit committee would make federal agents turn away. That is just how things are in the real world.

He wasn’t the only well-positioned protector of the bank, either. Someone in Authority upon seeing this picture of the Bank Board in 2007, the year before the financial world came unraveled might have whistled and exclaimed with eyes as large as saucers, “these are the most powerful people in Augusta!”

The story almost sounds straight out of Washington DC and the recent news bombshells over the conflicts between the FBI and Department of Justice up there.

In Columbia County’s banking controversy, the bankers are off enjoying their stock sale proceeds but the county finance department and the finance committee of the County Commission will now have to explain why they have been incompetent, or far worse.

May be no Talisman for District One Commissioner Doug Duncan, who is running for the Chairmanship of the Columbia County Commission with the backing of those same bankers. He had the chance to investigate 3 years ago, shortly after taking his seat, but dropped the ball. Former GB&T Chairman Robert Pollard, Former GB&T Chief Operating Officer Ron Thigpen, and Former GB&T Voting Board Member Larry Prather are listed as Duncan Supporters.Former GB&T shareholder and current Columbia County Commission Chairman Ron Cross, who voted for the suspect award of the county primary banking contract to GB&T, is said to be a Duncan contributor.

Law enforcement on three levels of government has the greater responsibility of having turned a blind eye until the Statute of Limitations expired, possibly allowing financial thieves to escape prosecution.

There are no Pulitzer Prizes that will be awarded to Augusta “journalists” from this scandal, either. The artwork was nice, though!

-AF

Banking Hard Right into a Wrong Place

OPINION by the Arrowflinger

Well, Well, Well Scott Johnson, What an interesting set of developments since we last talked. Back then, y’all couldn’t identify the Commission Finance committee member who essentially redirected a huge 5 year Columbia County banking contract to Georgia Bank and Trust after First Citizens Bank won that bid, but lately you have gotten really good at finding and disclosing facts about Pam Tucker. Austin has insinuated that you were “looking for dirt” on Ms. Tucker during her vacation, her conversation got very efficiently recorded and replayed, and there was a further dust-up involving a banker. Heaven knows that wasn’t one of the GB&T bankers. No one dare do that back when the banking contract went down. A majority of the commissioners, including 2 out of three on the Finance Committee, were GB&T shareholders then, including one who was the Chief Operating Officer of the bank!

What are the new Developments?

Well, that bank wound up being the 2016 flagship of the whole American Banking Association, when its CEO Dan Blanton became chairman of ALL of the bankers. The ABA was regaled with a story we all heard, GB&T’s claimed focus of “Doing the Right Thing.” Based upon What I have seen there is absolutely no question the executives of that bank were doing the right thing – for themselves! Your doings are trickier, because your finance committee and finance department were “Doing Tha’ Thang Right!”

In the last 15 months the United States Attorney of the Southern District of Georgia very arguably an unwitting protector of the entire mess, left his post after 8 years and was replaced just 6 months ago.

In the last 15 months GB&T sold out at a premium of around $49 per share, up from the dark $9 per share days of 2009, just before your secret finance committee member swung over $100 million of Columbia County’s money into rescuing them.

Meanwhile, the employees of 83 percent of area banks who didn’t work for that bank, many who lost everything in 2009 and got no rescue from you all, and the 100 GB&T employees who lost their jobs after years of propaganda will read this with keen interest. What is worse, we read that you are quoted promising retaliation against one of them for questioning not only Tucker’s departure but that of another departed division director as well.

This was and is a national scandal and you are sitting in the middle of it.

Columbia County Finance got caught “Doin’ Tha’ Thang Right” but the taxpayers didn’t even get a peck on the cheek.

They ain’t gonna be happy with YOU!

Are Herbert or Tucker any Match for THE ARMADA?

OPINION by The Arrowflinger

Rarely, if ever, has there been such a display of raw, naked, affluent power as this fundraiser handbill for a candidate for the Chair of the Columbia County Commission.

This invitation to a (fundraising) “Event” for Doug Duncan, now the District 1 Commissioner, might have dissuaded Mark Herbert and Pam Tucker from even qualifying. It didn’t.

It is breathtaking. This is a crew perfectly capable of raising $400,000 or even more, if they want to maintain their ironclad control of Columbia County.

They do.

Over here one finds fellow Commissioners Trey Allen, Gary Richardson, and Bill Morris. Not an overt sponsor on this invite, current Chairman Ron Cross has been cited in the Augusta Chronicle as donating heavily to Duncan’s campaign. On it we find stalwart backers of Cross from earlier campaigns like Jean Garniewicz and the Ivey Brothers.

Over there one sees the names of three voting members of a board of directors of a bank, that kinda, sorta got a timely backdoor bailout from Columbia County, Robert Pollard, Ron Thigpen and Larry Prather.

A bunch of the rest are developers, realtors, and builders.

Of course, no campaign endorsement list for a Columbia County incumbent politician worth his, or her, salt is complete without Sheriff Clay Whittle. He has been at this for decades now, hasn’t he?

The most amazing aspect of this list are the power brokers from old Augusta throwing their weight into this contest. State Department of Transportation Board member (former Chairman) and former Augusta Commissioner Don Grantham, former Georgia Representative Barbara Sims, and former State Department of Transportation Board member and former Augusta Commissioner Bill Kuhlke are on this list. Throw in names like McKnight and Hull – both of those last names emblazoned on the new Georgia Cyber Center for Innovation and Training in Augusta – and you get a stunning array of power.

This election might have been over before it started.

But then again…

The political seafloor is littered with invincible armadas that suddenly developed holes in their Hulls.

-Arrowflinger

Last Word: Iowa State Economist Chad Hart

On January 21, 2011, Dr. Chad Hart of Iowa State University was interviewed by C-Span Washington Journal host Peter Slen on the topic of rising food prices. Both received a challenge to the traditional economic theories from this sound money caller and advocate of alternative economics.

To expound on the Arrowflinger’s favorite alternative economic blogs, they include zerohedge.com, globaleconomicanalysis.blogsport.com, maxkeiser.com, market-ticker.org, kingworldnews.com, and financialsense.com.

The C-Span Interview

Last Word: FDIC Chairwoman Sheila Bair

On May 6, 2010, the Arrowflinger caught up with Ms. Sheila Bair, then Chairwoman of the Federal Deposit Insurance Corporation, on the Washington Journal. Here is his last word. Since that interview, Wells Fargo, who had the misfortune to be saddled with the carcass of Wachovia, has also had to settle litigation involving mortgage fraud allegations for $590 million and Collateralized Debt Obligations for $11 million, without admitting guilt – of course! There has been a settlement with another bank for $100 million.

Closer to home, Wachovia had an enormous investor base around Augusta, Georgia because of a series of bank acquisitions using Wachovia or predecessor First Union’s stock. Wachovia stock went from $57 to less than $2 before the failing bank was rolled into Wells Fargo. Other national banks saw stock prices plunge. Since many prominent area families were so heavily invested, one of the old family patriarchs has been heard to say that the fall of Wachovia and others swept $1 billion out of Augusta. A cynic would say this is why, now more than ever, it is critical for citizens to keep vigilant, lest they find themselves making up the losses by political actions.

Now the Last Word, followed by the C-Span clip of the Bair Interview.

Here is the C-Span clip from May 6, 2010.