Friday, June 27, 2014

It's Rhode Island Who gives a crap about $57 million?

            So this story is typical of politicians and the media in Rhode Island...I have accused  Mayor Taveras  and city of Providence  several times of deceitful and illegal accounting practices  starting in 2013. I did this in print.They (providence and Taveras) never responded . Then in January this year the city auditor Segal issues an audit and warns Providence they can no longer" asset pump" and they should no longer include $57 million in their Stated Assets, because it isn't really there. So what does Providence and the Media do ? They  continue to recite the plan  assets as Providence has falsely done for years and willfully  ignored the Auditors warning and my accusations. I wrote several pieces about this purposeful  overstatement of assets of $ 57 million in the pension plan that will now  just go poof in a few weeks because it was a  really a lie/trick. It was completely  dishonest and highly unusual which is how i caught it, but where is the Rhode Island Media?.. ....crickets.. 
        Just two days ago WPRI used those same false figures about pension liabilities and UAAL . No doubt Projo will also continue to quote the phony numbers . Who gives a shit about lying about $57 million in the Providence Pension Plan . Right?  Well guess what happened this week when I threatened to expose the new bond offering by Providence as Misleading to the SEC.

      Suddenly an addendum disclosing the misstatement of assets, $57 million , is added to the bond offering,
.    type :providence in search  and download

No news stories , no Rick Perry "Whoops" , no nothing.They  just quietly admit the lie because they had to. This is the behavior that makes Rhode Island suck. It s why we are 50 th. No one is accountable. The game  plan for when someone exposes corruption is for the wrongdoer to roll up in a ball and say nothing. The media will go away in a few hours anyway and our medias  investigative reporting is so bad they wouldn't know an Inside Trade if it hit them in the face. I am watching real time a candidate for Governor in Rhode Island ,Angel Taveras  lie for years about his pension plan and then ignore accusations of wrongdoing and then ignore their own auditor. I mean how sleazy can you get? now after we all know he has slipped this in a bond document the main stream media will ignore it. The pension plan will be missing $57 million dollars . The liability and ARC will go up. and he wont be mayor anymore because the voters will move him on to Governor or he'll just disappear for a bit. This behavior and the pattern of deception from Providence is outrageous. Every pensioner and taxpayer should be asking WTF? but not here in last place Providence and  in last place Rhode Island where lowering the bar and still failing is a sport.


  1. How much went missing from the landfill? The same announcement stated they couldn't even press charges because the statute of limitations had run out - how convenient.

    I hate to say no one cares but the fact that 40% of all GA positions are running unopposed tells the real story.

    1. i hear you.....we could take the atlas shrugged approach

    2. I for one am very excited over the work you are putting into your blog and your stories at GoLocal.

      For Projo to respond to your story about the Taveras accounting fraud you are getting some eyeballs and apparently ruffling some feathers. You scare them!

      Keep up the good work!

      In 2015 without the master lever there will be less unopposed and as time goes by there will be less and less democrat control. Baby steps.