Walker's Economic Destruction Corporation – Another Scandal Brewing [View all]
Source: PolitiScoop
Madison – Governor Scott Walker’s quasi-public organization known as the Wisconsin Economic Development Corporation (WEDC) has been audited and the results should alarm state residents. The WEDC replaced the states Commerce Department in July of 2011 and in just 17 months has lost track of $19 million dollars in loans.
If that were not enough bad news for tax payers, the independent auditing firm also suggested the state will never recover that money and the $19 million lost may just be the tip of the iceberg because the state has about $51 million in outstanding loans the WEDC has failed to track.
The auditing agency cited sloppy accounting practices as well as poor monitoring of loans and a mass exodus of employees contributed to the huge loss of state money. The states' former Commerce Department consisted of 300 employees until Walker dissolved the department and installed “Walker's Economic Destruction Corporation”. Now the WEDC has just 50 employees.
This is the same department Walker has been counting on to help create 250,000 new jobs, a number that is now acknowledged as impossible to attain.
The Wisconsin State Journal Reported:
The problems at WEDC are so serious, said Rep. Peter Barca, D-Kenosha, that if its problems can't be fixed over the next year, it should be dismantled, and the state should return to its previous Department of Commerce.
Read more: http://www.politiscoop.com/us-politics/wisconsin-politics/1639-walker-s-economic-destruction-corporation-another-scandal-brewing.html
Walker's legacy of destruction continues.....
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