Dick Adams wrote an email to the Spokane, WA, City Council and Mayor Mary Verner last week that, when you put two and two together, has the effect of indicting the mayor for anarchy. Actually, the evidence suggests to me that the mayor effectively confessed to anarchy three years ago with a surprisingly candid email she wrote to a former sheriff. Mr. Adams’s email shows what Mayor Verner’s anarchy is costing her citizens.
Mr. Adams objected to consideration that Spokane chief financial officer Gavin Cooley is giving to “charging our city credit card” by selling $45 million of councilmanic bonds. Mr. Adams told me that he considers this an illegal use of public debt because its purpose is to solve a financial crisis caused by an earlier illegal use of public debt. Mr. Cooley is an agent of both frauds, charges Mr. Adams, which stem from the River Park Square financial scandal.
Dick Adams is hardly alone in decrying such abuse of public finance as part of a much larger pattern of government behavior in America today. A retired executive of a U.S. Steel subsidiary, Mr. Adams is well known for his financial expertise. Over the years he has been one of the closest and most knowledgeable observers of municipal finance in Spokane. Not just Teapartiers agree with him that America’s fiscal lawlessness has become nothing less than a government Ponzi scheme now threatening the country with an historic economic catastrophe.