The Civics Interview with Ken Block: “Are we living in a society that believes that financial-industry needs take precedence over democratic voice?”

Question 2 to Moderate Party Gubernatorial Candidate Ken Block: One set of criteria in the new fiscal stabilization law that can trigger a municipal takeover by the state involves decisions made by bond-rating agencies. The 1990s RI Supreme Court opinion which will likely be used to justify this new law begins with the statement that “on or about July 16, 1993, Moody’s Investors Services, a recognized bond-rating agency, downgraded the town of West Warwick’s municipal bonds to a grade Ba”. Are we living in a society that believes that financial-industry needs take precedence over democratic voice?



Looking at state finances holistically, and looking at our town finances holistically, our elected leaders have done an awful job of strategic planning and thinking and laying out sustainable budgets and insuring that we can handle financial crises when they come down the line… Audio: 50 sec



The credit agencies and the bond ratings, where they look at the states finances and town’s finances as a whole, look at the unfunded liabilities and pension plans, look at where the tax dollars are going and look at what other liabilities you have is a very necessary benchmark in my opinion, to determine if we have a problem or don’t have a problem, because we don’t really have a mechanism other than that, unless we send in the Auditor General because something has been raised as a red flag. I think the bond ratings agencies are probably a good canary in the coal mine, to determine if we have a substantial problem… Audio: 1m 4 sec



We have to get our hands around this, and do something about it, because the average taxpayer is entrusting their elected leaders to just do the right thing, and when they don’t, what do we do? We don’t really have a recall provision. We don’t have a systematic way for assessing the health of governments and budgets and finances… Audio: 25 sec



We need to have the early warning. We need to have a process and procedure in place. If a town is spiraling down the insolvency drain, how do we yank it out of there…You can certainly make the claim that we’re stepping out of the boundaries of the strict constitutional read of things, but in the absence of a better idea right now, I think it’s appropriate and necessary, because we can’t have the disasters unfolding that appear to be happening to us… Audio: 42 sec

0 0 votes
Article Rating
Subscribe
Notify of
guest
4 Comments
Oldest
Newest Most Voted
Inline Feedbacks
View all comments
BobN
BobN
10 years ago

The best way to restore solvency and prudent financial management to the cities and towns is to do two things:
1. Repeal all the state laws that mandate specific spending and contracting practices at the municipal level; i.e., restore their freedom to run their own affairs, including renegotiation of existing retiree benefit plans and hiring non-union employees. This includes local control of all aspects of the school systems.
2. Make clear to all the world that as a consequence of their restored freedom, municipalities are solely responsible for their financial obligations and the state will not “yank it out of there…”
The thing that statists refuse to acknowledge is that when people are treated like adults, they act like adults. The statists would prefer infantile dependency on big government because it makes the people hostage to statist politicians and bureaucrats.
Freedom Works!

Tommy Cranston
Tommy Cranston
10 years ago

Block is a fraud. I know someone who was willing to run as a Moderate and put money in the race.
The first thing Block told him is that he must be for sodomy marriages and he must be for killing babies…
So much for the “we don’t take part in social issues” Ken Block.
Go away pal, you’re about to enter Chris Young territory.

Sammy
Sammy
10 years ago

Tommy Cranston
Sodomy: is a term used in the law to describe the act of “unnatural”[1] sex, which depending on jurisdiction can consist of oral sex or anal sex or any non-genital to genital congress, whether HETEROSEXUAL, or homosexual,
Google “Newt Gingrich” and oral sex

Show your support for Anchor Rising with a 25-cent-per-day subscription.