The Martin County
Defender
The e-newsletter for aware citizens No. 73
ENOUGH BLAME TO GO AROUND
Martin County and the national meltdown of the financial market structure
What happened?
Greed, poor control and unrealistic skys-the-limit optimism is what happened. The public happily trusted the decisions of the power structure that refused to face reality. Conservatives wanted loose regulation to unchain ambitious entrepreneurial efforts. They wanted easy money to fuel fast growth, more profits and higher stock prices. Liberals wanted the same easy money for different reasons. They wanted more funding for costly new social programs and centralized control. They wanted more union jobs. Republicans and Democrats united! A variety of people with special agendas wanted low interest money for affordable housing and other good works. So almost everyone was on board.
Banks were pressed (Community Reinvestment Act of 1977, updated) to extend credit to subprime borrowers unable to repay loans. The Federal Reserve kept pumping air into the balloon with low interest rates. Congress went on a spending binge. Washington created private corporations (Fannie Mae and Freddie Mac), which then acted as if they were a U.S. Treasury Santa Claus. Banking and stock exchange regulators couldnt see financial excess when it stared in their faces.
Debt ratings services were wantonly blind. Investment house execs took home $50 million/yr as they drove their firms over the cliff. Speculators and developers took advantage of the situation. It became too easy to unload semi-worthless loans. Consumers were on a credit card buying spree. Politicians and officials catered to special interests instead of thinking of the consequences forMain Street. The few dissenting voices of caution were drowned out as the real estate industry pooh-poohed warnings. Then the bubble burst. The day of reckoning had come.
Somehow we will get out of the current national financial mess, but there is a lesson to be learned; namely, that down to the lowest governmental levels, we must think for ourselves. To the extent possible, we need to implement realistic policies that offer a measure of stability instead of boom and bust. This is one more key reason for advocating slow growth, for protecting the Comp Plan, and for more tightly controlled county spending.
We expect, or at least hope, that our locally elected officials know enough about the law and about financial management to be capable of looking out for all Martin residents. Of the fourteen Primary and General Election ballot candidates for the Commission this year, only two have the background experience needed in the days ahead: Henry Copeland and Joan Wilcox. Both are lawyers, and both have extensive training and experience in financial management. Copeland is out of the race, so if we want at least one commissioner to be well versed in the arcane skills that will be sorely needed in the days ahead, it makes good sense to elect Joan Wilcox in District 1.
CITIZENS GET THE CHANCE TO DECIDE
Constitutional amendments on the ballot
There are six Amendments to the Florida Constitution on the 2008 ballot numbered 1 to 8, with Amendment numbers 5 and 7 knocked out by the court. No. 1 is proposed by the Legislature; No. 2 by Initiative Petition. All the rest are proposed by the Taxation and Budget Reform Commission. Here is a quick survey of them.
No. 1: Declaration of Rights It would eliminate the archaic constitutional authority that allows the Legislature to prevent foreigners from owning property. Elimination seems like the right thing to do.
No. 2: Florida Marriage Protection Amendment It defines marriage as the union between one man and one woman. Period. Opponents claim it wrongly eliminates gay rights. Proponents claim it prevents radical changes in our long established social-legal structure. Its a question of special civil rights vs. the risk of unintended consequences from dramatic change.
No. 3: Changes and Improvements Not Affecting the Assessed Value of Residential Real Property It exempts property owners from increased assessments for such improvements as renewable energy and storm shutters. On the one hand this Amendment encourages investment in upgrades that help the environment and reduce wind damage. On the other hand, it favors those who can afford such improvements, while poorer people may need to spend (if they can spend at all) on such non-exempt needed improvements as water, septic, electric equipment and roofs. Its a desirable effect versus fairness. Take your pick.
No. 4: Property Tax Exemption of Perpetually Conserved Land, Classification and Assessment of Land used for Conservation The basic idea is to motivate land owners to encumber environmentally sensitive land with perpetual conservation protections in exchange for tax exemption. This can be great or terrible, depending on how the enabling law will be worded. The devil is in the details. One hates to see the system gamed on occasion by far less than pristine preservation land. And how can an owner use his preservation land? Overall its worth a yes, but lets watch for the follow-up details.
No. 6: Assessment of Working Waterfront Property Based on Current Use When one or two industries are picked out (marinas and fishing in this case) for special tax breaks, it means that other equally deserving businesses and residents have to pick up the tax shortfall. This Amendment may be well intended, but such favoritism does not smell right.
No. 8: Local Option Community College Funding It will further the ongoing efforts of some of those Tallahassee slickers to keep shifting the burden of higher education from the state to the already overburdened localities. Tell em No Way!
A 60% majority vote is required to add an amendment to the Florida Constitution.
A POSITIVE STEP FOR MARTIN COUNTY
Life Sciences Consortium to nurture technology and education
The Martin County Future Group reports that on Sept. 25, 2008, the County, City, State, School Board, Hospital, and the College and University came together to celebrate the creation of the Martin County Consortium for Life Science Research and Technology Advancement. The Martin County Life Sciences Initiative represents collaboration among academia, business, government and healthcare organizations that hold a shared vision to nurture technology, education and innovation opportunities in Martin County.
The following representatives of the collaborating entities signed the Life Sciences Initiative:
Doug Smith, Chairman, Martin County Commission; Dr Edwin Massey, President, Indian River Sate College; Mark Robitaille, President, CEO Martin Memorial Health Systems; Sherry Plymale, Trustee, Florida Atlantic University; Laurie Gaylord, Chairman, Martin County School Board; Jeff Krauskopf, Mayor, City of Stuart; Neil Subin, Mayor, Sewalls Point; Peter Kemp, President, Business Development Board; Ed Weinberg, Chairman Economic Council; Gail Myers, Councilwoman, Town of Ocean Breeze Park; Catherine McKenzie, Chairman, Workforce Development Board.
Good luck, folks. We hope residents will enthusiastically support this effort to provide economic diversity to our community..
ARE THEY BAD BECAUSE THEY ARE TOO GOOD?
City and county e-mail firewalls
We sent an inquiry to a City of Stuart Commissioner at her official e-mail address. She never received it because, we are told, the City has a very strong firewall and a lot of emails do not make it thru. We question whether it makes sense to block valid citizen communications to officials, even unintentionally, just to block some junk mail.
Martin County has wisely chosen not to impose the kind of firewall that blocks citizen e-mails. So commissioners may have to hit the delete key more often, but more importantly, citizen e-mails reach them.
IT MAKES OUR EYES ROLL (AND STOMACH HEAVE)
The Politicians Assurance: Accepting campaign contributions from special interests will not influence my vote.
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Al
Al Forman, Editor 9/30//08
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