Showing posts with label chancery court. Show all posts
Showing posts with label chancery court. Show all posts

Friday, May 8, 2026

May, 2026, Political Class Insanity, Part 1 - Mamdani's Horrible Budget Priorities, Delaware Leaking Corporations, Another Failed Obama Green Boondoggle, and More

 We have spent a lot of recent posts discussing the race  to bankruptcy court that many state and city governments are involved in and the massive and disturbing fraud that has infested just about every  government program, stealing billions and billions of taxpayer dollars. However, the ongoing stupidity, ignorance, and greed of the American political class has continued unabated and we will try to bring readers up-to-date on what they are screwing up now:


1)David Rivera is a former Florida Congressman that is now going to prison:


  • He is the son of Cuban exiles who  was elected  to Congress in 2010 but only served one two year term.

  • He did not get reelected partly as a result of ethics probes and possibly misusing campaign funds.

  • But for another reason altogether, a Miami Federal jury recently convicted him and a political  consultant, Esther Nuhfer  “on  charges of failing to register as foreign agents when they lobbied major politicians in  a scheme to  ‘normalize relations with Venezuelan President Nicolas Maduro after Rivera had signed a $50 million  contract with the American arm of Venezuela's  national  oil  company.”

  • The two were guilty of violating Federal foreign agent registration  laws.

  • According to the  FBI’s  Miami office A federal jury in Miami found a former U.S. Congressman David Rivera guilty of secretly lobbying on behalf of the Venezuelan government and laundering millions of dollars tied to that work, in violation of the Foreign Agent Registration Act.”

  • He faces  up to 60 years in Federal prison  for his greed.


It is refreshing to finally see one person from the American political class go to  prison for violating the law, hopefully many more will follow, also for their own blatant violation of  the law, always thinking that the laws they pass do  not apply to  them.


2)We  have previously discussed the plight in the state of Delaware regarding the Delaware Court of Chancery:


  • For a very long time, many businesses incorporated their business in the state of Delaware because of the Court of Chancery.

  • The  reason for favoring Delaware to incorporate was that the Chancery Court had a long  history of being favorable and fair to businesses  when it came to legal matters.

  • It was so large that estimates say that 25-30% of the Delaware state government general budget comes from the court’s fees.

  • But over the recent past, that reputation for being fair and reasonable for business dealings and lawsuits has become frayed, with many large  and small businesses leaving the state and incorporating in  more friendly business  environments  in other states.

  • Obviously the  continued loss of incorporation business in the state is eventually going to cause some severe budget problems for the state government and taxpayers.


The pressure on that state budget revenue line just got a little  more stressed:


  • Dell Technologies, they of the personal  computer business, recently left Delaware and re-incorporated in  Texas, a much  more business friendly state these days.

  • Dell was founded in 1984 but 42 years later it is moving its incorporation basis to Texas.

  • While the company said it was moving to Texas because that is where it was founded, it is part of a troubling trend for Delaware losing  another major, major corporate customer.

  • In just the past 24 months, over 60 companies worth over $3 trillion in market value have left and re-incorporated elsewhere.

  • Recently, tech firm  Samsara  with a market  cap value of $17 billion also left the Delaware Court of Chancery.

  • Others who have left include Tesla, SpaceX, Coinbase, Roblox, Dropbox, Dillard's, and Simon Property Group.

  • The court’s reputation for fairness and being business friendly was recently upended when famous lawyer and Harvard professor  emeritus, Alan Dershowitz, called the state’s court "one of the most corrupt in the nation."


While Delaware is not one of our  top states  to go bankrupt pretty soon, this situation  is characteristic of politicians in the  top candidates to  go bankrupt. People and  businesses want to  be free and treated fairly and when that does not happen they move to where they will be treated fairly and be allowed to keep  their hard earned wealth,  it is  not a  complex concept. 


The Court of Chancery is  a case in point and it will  very soon start hurting the average Delaware taxpayer to make up  for the  idiocy of the court and the ever growing shortfall  of revenue it  provides to the  state government  budget.


3)The city government  of New York City  is going broke.  Its current fiscal year budget planning is  over $5 billion short. Businesses and residents are packing up and  taking their  tax revenue with them to other states and cities. The mayor is  going around and insulting the very taxpayers he needs to stay put in the city to fund his  socialist/communist vision.


And despite this dire budget outlook:


  • The Mamdani administration has set aside $500,000 to  support “community discussions” on  reparations for black New Yorkers.

  • Not $500,000 to pay reparations, $500,000 just to discuss them despite the fact that no black  American living in the city has ever worked as a slave and no taxpayer in the city has ever owned slaves or a plantation.

  • More than 24 organizations will each receive thousands and thousands of dollars to hold  "conversations to  discuss the  development of a reparations study”  and to  collect “input on the early development of  the  citywide,  Truth, Healing and  reconciliation  plan.”

  • Refreshments will be served at  these discussions  and paid for by city taxpayers.


Talk  about political class insanity; first, pushing these types of non-essential expenses and  efforts while being short billions of dollars for the budget is financially  irresponsible. Mamadani  has refused to hire 5,000  additional  police officers that are needed to keep  citizens safe,  a basic function of any government  entity but will be serving tea and  crumpets to hold these nonsensical  discussions.


Second, if there really  is money  laying around  and nothing to  spend the money on  besides reparations,  why not take  that excess money and improve  the  education of black kids in the city?  That would be  a far better investment for the  black community,  helping  raise the education level and living standard of black families and their  kids as  opposed to a one  time payment of reparation for phantom slavery  affronts.


Third, it is a racist and probably illegal approach to the use  of taxpayer funds, you cannot do this type  of  race specific stuff without violating the Civil Rights Act.


But Mamdani’s insanity and  fixation on race is much more expensive than this $500,000. Budget wise, he wants $4.6 million for the Commission on  Racial Equity and another $5.6 million for the Office of Racial Equity. Over $10 million for something that never happened in the city:  slaves and plantations. Pathetic waste of taxpayer wealth  and  such bad priorities.


4)We have  always contended  and often proven  that man  made  climate change, or  its predecessor global warming, was a  myth. That did not stop people  like Obama from  spending billions upon billions of  dollars on  failed  global  warming initiatives (e.g. remember the Solyndra and Fisker debacles?).  Fortunately cooler  heads have finally prevailed  and  curtailed failed  and  ignorant global warming projects from  being paid for  by the taxpayers.


But, unfortunately, a global-warming  failure from the Obama era is still causing havoc with nature and environmental destruction:


  • A taxpayer  backed “clean energy” solar plant was built out during the Obama era.

  • The so-called Ivanpah Solar Power plant  was  designed to  use thousands of mirrors  to reflect  sunlight onto three towers, causing the reflected  sunlight to produce heat and electricity.

  • The plant cost $2.2  billion of taxpayer wealth.

  •  But newer technology almost immediately  made this solar farm  mirror technology obsolete and  both the Biden and Trump  administration tried to shut it down.

  • However, California government  folks said no to shutting  it down, no matter how outdated  and inefficient  it is, since they still needed electricity.

  • Even the Sierra Club, a fighter for the  environment, says the  project is both a "financial boondoggle and environment disaster” since it  kills "thousands of birds  and  tortoises” and  proves that “not all  renewable  technologies are created equal.”

  • The mirrors  concentrate  so much  sunlight into beams that birds caught in the reflected  beams  catch  fire mid-flight, with  the  number of  birds  killed  every year totaling  in  the thousands.

  • The construction  of the project bulldozed  a  whopping 4,000 acres of pristine  desert  land,  killing unknown  numbers of native tortoises.

  • And yet this  "green" project still  needs  natural gas  to  boot up  every  morning,  and uses 60% more natural gas every day than originally forecast.

  • Thus, this natural  energy project burns up to  30,000 metric tons of carbon  every year to get the plant started everyday, not a very eco-friendly situation.


Obama left office long  ago. Yet, his green energy legacy is  a disaster with this  solar project just one prime example; obsolete  technology, killing of birds and tortoises and  who  knows what other  living things, using dreaded carbon  based fuel to get the whole operation  going  everyday, and cost over $2 billion.  Another  disaster  from the  American  political  class.


Enough  insanity for today: a  felon of an ex-politician in Florida, now Delaware is  leaking business tax dollars,  Mamdani’s  horrible priorities in the face  of a $5 billion  budget deficit, and the Obama green agenda continues to be a disaster.


**********************

If you agree that we need to deseat every member of Congress for their lack of success and accomplishment, then please consider going to the following petition link to help the cause:


https://www.change.org/p/deseat-congress-reset-freedom



**********************


Our book, "Love My Country, Loathe My Government - Fifty First Steps To Restoring Our Freedom And Destroying The American Political Class" is now available at:


Friday, April 17, 2026

April, 2026, Part 4, Political Class Insanity: Delaware Facing a Revenue Problem, A Corrupt, Ballot Stuffing Politician In California and Obama Is Still A Hypocrite

 We have been spending a lot of time lately dissecting the race to bankruptcy court,  i.e. what state government or city government will go bankrupt first. Many  Democratic states and cities have already entered into financial death spirals as their taxpayer base erodes but the politicians running these cities and states cannot or will not reduce government  spending or make government operations more efficient to cope with the shrinking tax base. 


The last two posts on this topic can  be found at the following links:


https://loathemygovernment.blogspot.com/2026/04/the-race-to-bankruptcy-court-proof-that.html


https://loathemygovernment.blogspot.com/2026/04/the-race-to-bankruptcy-court-california.html


However, we will take a break from this bankruptcy race and discuss some good old fashioned political class insanity for the next few posts.


1)One of the most consistent traits of American politicians is their hypocrisy. They act holier than thou but their hypocrisy and selfishness always eventually shines through. Obama recently presented the most current example of that hypocrisy:


  • After the bogus election results of the 2020 Presidential  election process and other voting corruption cases and examples, Republicans in  Congress and Trump have been pushing the SAVE Act legislation.

  • The main point of the proposed legislation is that before someone could vote in an election, they would have  to prove they are a valid American citizen and voter by showing a valid photo government id document.

  • It is a simple and logical requirement so that ballot boxes cannot be  stuffed with bogus votes and voters which is exactly what happened in 2020 and resulted in Biden getting a totally unrealistic and impossible 81,000,000 votes

  • Obama, as an ex-President,  should be seen and not heard, his time in the  spotlight ended ten years ago.

  • But his ego will not let him fade into history and he has been an active and  loud critic of the Save Act.

  • He ridiculously claims that millions of Americans would lose their right and privilege to vote if they had to provide a simple government id at the voting place.

  • But the hypocrisy is that in order to enter his pending Presidential library in Chicago you have to show, wait for it, a valid government photo id.

  • The plan is for Chicago, Cook County, and Illinois state residents to have free access to the library on Tuesdays but to get the free option one would have to  prove they are legal residents of the city, county, or state.

  • Specifically, someone "must be able to provide proof of residency with a valid photo ID, Illinois driver's license, state ID, or city-issued ID."

  • The foundation operating the Presidential Library operation is also conducting a sweepstakes  that offers two free tickets to the grand opening of the  library in June but any potential winner will have to provide a government issued id in order to get the two free tickets.

  • Trump’s press  secretary,  Kayleigh  McEnany, summed up the  hypocrisy quite nicely:  "Why do we have stricter standards for the Obama library than for voting?"

  • But this hypocrisy should not surprise anyone since Obama promised local Chicago residents  would not pay for any aspect of the Obama Presidential library since it would be privately financed.

  • But the bottom line is that the state of Illinois contributed $229 million of  taxpayer money and the city of Chicago contributed over $200 million for road construction and modifications, utility relocations, and drainage improvements.

  • While taxpayer money was used to make the environment possible for his presidential library,  Obama’s library staff has at least seven employees that are earning six figure salaries with the  top executive,  Valerie Jarrett, pulling down over $700,000 a year in  salary.

You must have a government id to enter my library but I oppose having a  government to vote, a vital part of any democracy.  Give me your tax  dollars to make my library possible but I  am going to pay my political  cronies mega salary dollars as employees.

Keep in mind that according to a Pew Research poll, 83% of Americans are in  favor of a government photo id being required for voting. Thus, Obama and Democrats who oppose the Save Act are not operating according to the will of Americans. They are operating under the conception that the looser the voting requirements the easier it will be to replicate the stealing of the 2020 Presidential election.

But do not try to get that free Tuesday admission to the Obama library, that is more important to police and regulate than the next election. Pathetic respect for the integrity of  the voting process.

2)Speaking of  voter fraud, corruption, and  abuse:

  • A former councilman  in  Lodi, California recently pleaded no contest to an extensive election case fraud.

  • This happened when investigators found dozens  of suspicious ballots and voter registrations in his home.

  • Specifically, they found 41 completed mail  in ballots and  about 70  registrations connected only to his address or his own contact information.

  • He pleaded no contest but accepted a conviction and the criminal penalties that come with that situation.

It is sad when it is actually an elected official, or former elected official, that is involved in stuffing and corrupting the ballot box and voting process. More proof that voting procedures need to be tightened up especially when it is the political class doing the corrupting of those procedures.

3)We have  often talked about how we believe that a state government will soon go  bankrupt as their politicians lead them down a financial death spiral. Our top candidates for a state government bankruptcy are New York,  New Jersey, Illinois, and California.

We have  never  discussed the possibility that the tiny state of Delaware could also enter that race but there are some ominous rumblings coming out of that state lately that is resulting in some financial strains:

  • Delaware has long been a favored state of businesses to incorporate in.

  • The state Court of Chancery has long been a respected type of court that businesses favored to be ruled over since they had the best history and personnel to support business financial and  legal  matters.

  • In return for being a state to have  favorable incorporation rules and laws, the state government received significant funding and fees  from  the operation of this court.

  • In fact, it is estimated that the fees that come from the incorporations and related activities come out to about $2.8 billion a year or about 20% of the state government’s annual budget.

  • But over time, this special court began issuing more and more anti-business rulings in the  opinion of many businesses incorporated in the state.

  • And as a result, many businesses have withdrawn from the state and are now doing business in other more business-friendly states.

  • This has resulted in a downward pressure on the revenue that the state government relies on from this court, which, as we stated above, is a whopping 20% of the total state budget.

  • In fact, it is estimated that dozens of businesses have withdrawn their incorporation business out of the state to other, more business-friendly courts in states such as Texas and Nevada.

  • At least 60 companies have left the state to incorporate elsewhere, taking a whopping $3 TRILLION of  market  cap value elsewhere.

  • In a recent week, the companies FirstCash Holdings and GPGI have stated their plans to  withdraw from Delaware.

  • FirstCash is going  to incorporate in Texas and head  out of Delaware and   GPGI is leaving Delaware and heading to Nevada.

  • Other companies that have already left Delaware include Tesla, SpaceX, Coinbase, Dillards, the Simon Property Group and dozens of  other companies.

  • Other companies are bypassing the state altogether such as Exxon MObil which is moving out of New Jersey and reincorporating in Texas,  bypassing Delaware altogether.

  • At least seven other major companies are holding shareholder votes to leave Delaware for other states.

  • Famed lawyer and Harvard professor emeritus has called Delaware’s judiciary “one of the  most corrupt in  the nation," hardly a ringing endorsement.

  • "Delaware's once-esteemed Court of Chancery is increasingly viewed by corporate leaders as unpredictable, with rulings that introduce uncertainty into routine business decisions and open the door for enterprising trial attorneys to file lucrative lawsuits," according tp Karen Harned, a former executive director of the National Federation of Independent Business Small Business Legal Center, recently wrote in DelawareOnline.com.

Interesting developments: could the Delaware state government start into a financial death spiral like the four states  listed above but for a different reason: their steady, major funding from  the state’s Court of Chancery continues to dwindle as companies move their business dealings out of the state much like businesses are physically moving their businesses out of New York, New Jersey,  Illinois, and California for better tax and regulation reasons.

Will Delaware politicians do the right thing and streamline and reduce government  operations to deal  with the reduced tax revenue? Or will  they take the easier, more cowardly strategy to just raise other tax rates to fund their now bloated and at risk government budgets? Who knows, maybe Delaware enters the race to bankruptcy court with the bigger states listed above.

Enough insanity for now: Delaware state government also now faces a dwindling tax revenue stream, Obama is still a hypocrite, and a California politician allegedly stuffed the ballot box and is going to jail for possibly doing so.

**********************

If you agree that we need to deseat every member of Congress for their lack of success and accomplishment, then please consider going to the following petition link to help the cause:


https://www.change.org/p/deseat-congress-reset-freedom



**********************


Our book, "Love My Country, Loathe My Government - Fifty First Steps To Restoring Our Freedom And Destroying The American Political Class" is now available at: