Penny Press , USA Volume 16 Number 7 OCTOBER 18, 2018 THE PENNY PRESS,OCTOBER 18, 2018 PAGE 2

www.pennypressnv.com The Penny Press is published weekly by Penny Credits: Far West Radio LLC All Contents © Penny Press 2018 Publisher and Editor: Contributing Editors: Press Fred Weinberg Floyd Brown Al Thomas Letters to the Editor are encouraged. They should be Doug French Robert Ringer emailed to: [email protected] No unsigned or Logotype unverifiable letters will be printed. Pointedlymad John Getter Pat Choate licensed from: Ron Knecht Byron Bergeron 775-461-1515 Rich Gast Penny Press NEVADA USA 16 PAGES VOLUME 16 NUMBER 7 OCTOBER 18, 2018 Maybe The Little Buttheads Won't Ruin Us After All By MICHAEL SCHAUS In fact, according to a national that has not only utilized but also In every corner of the economy, Special to the Penny Press Reason-Rupe survey, more than half advanced the free market unlike it is clear that America’s youngest of 18- to 29-year-olds (53 percent) any other. generations demand a constant Kids today ruin everything. view socialism “favorably.” Discontented with the flow of innovation, customization Socialism, for example, just isn’t To generations that are old monopoly-like power of cable and (above all else) choice when what it used to be. enough to remember when a companies, young Americans it comes to how they interact with Of course, that’s not necessarily socialist uprising in Cuba resulted happily embraced online-streaming the world. in a handful of nuclear missiles alternatives such as Netflix and In other words, we’re talking Commentary being parked 90 miles off the coast Amazon — allowing them the about a demographic that has of Florida, this modern embrace of freedom to pick not only what they imbedded in its consciousness a socialism can be alarming. watch, but when they watch it. sound rejection of anything billed Thankfully, what’s considered Feeling underserved by as a one-size-fits-all solution. a bad thing. In fact, for advocates of “socialism” in today’s pop-econ expensive taxicab companies, Instead, they demand a seemingly the free market system, the evolving terms bears little resemblance to America’s youth turned to market- endless supply of options, progress understanding of what it means to the textbook definition. disrupting ridesharing competitors and market competition. be a “socialist” in modern America In fact, judging newly- such as Uber or Lyft. And this isn’t just some isn’t nearly as dire as it sounds. empowered young Americans by By embracing sites like Etsy, academic observation based off The newly empowered the way they act, one could easily Amazon and countless others, the consumer habits of young generation of young Americans mistake them as more pro-capitalist these young consumers not only Americans. We’re seeing this pro- — millennials certainly fall than many of the generations transformed the way we shop, but choice mentality shine through in into this group — increasingly before them — their fondness for a they have unleashed an untold public policy as well. describe themselves as so-called growing welfare state aside. number of young entrepreneurs School choice, for example, is “Democratic Socialists.” This is a generation, after all, into new markets. Continued on page4 The Conservative Weekly Voice Of Nevada RON KNECHT PAGE 5 Penny Wisdom FRED WEINBERG PAGE 6 Inside: ROBERT RINGER PAGE 7 This country has gotten where To Understand Us it is in spite of politics, not DOUG FRENCH PAGE 9 by the aid of it. That we have JENNIFER CARROLL PAGE 10 Go To Kitty Hawk carried as much political bunk as we have and still survived ROBERT ROMANO PAGE 11 shows we are a super nation. CHUCK MUTH PAGE 14 See Editorial Page 6 —Will Rogers THE PENNY PRESS,OCTOBER 18, 2018 PAGE 4 They Want Choice...But Don't Want To Call It Capitalism Continued from page 3 one of the most libertarian policy changes to sweep the nation in recent the droves of young activists showing up for Bernie Sanders or Alexandria decades — and millennials are overwhelmingly supportive, with roughly Ocasio-Cortez — aren’t really pro-socialism, as much as they are pro- 75 percent supporting the concept, according to a recent survey conducted welfare. by Beck Research . Driving the movement is a growing belief that taxpayers should foot That’s a lot of supposed socialists embracing the idea of a market- the bill for an ever-increasing list of government programs. It’s a call for driven education system. Such support, however, shouldn’t be too more government spending — not necessarily a dismantling of the market surprising. economy. Instinctively, this generation expects corporations, governments and And that’s a sharp departure from the traditional understanding of pretty much the whole of society to cater to their unique needs, compete socialism — where government technocrats and commissars replace for their attention and respond to the market forces of their generation. organic market forces in a top-down bureaucratic system. Indeed, the And why shouldn’t they? More than their parents or their grandparents, brand of socialism that Marx wrote about, isn’t the kind of socialism millennials have experienced a level of customization and innovation that young elite progressives would be willing to tolerate. couldn’t have been imagined just a few decades ago. Socialism in modern America just isn’t what it used to be — and The result is a generation that might not respect the economic nuances that means there is a Grand Canyon-sized opportunity for the liberty that have created such vast consumer choice, but have grown to expect movement to be heard by young Americans. and demand it nonetheless. After all, we’re talking about a generation that, more than any other, This demand for choice tells us something important about the has already embraced the core tenant of free-market capitalism: The so-called socialist groundswell among young Americans: “Socialism” freedom of choice. doesn’t mean the same thing in modern political discourse that it meant Michael Schaus is communications director for the Nevada Policy in the 20th century. Research Institute. The American generation now calling for “democratic socialism” — THE PENNY PRESS,OCTOBER 18, 2018 PAGE 5 Commentary: Ron Knecht & James Smack economy in state operations; better improving services. The budgets voter initiative to repeal it. We’ve Re-elect management of fiscal affairs; we subsequently submitted have made progress and had setbacks. support of public credit; and better been well lower than the one we However, we have a sound plan to Ron Knecht understanding of all these things. inherited. get it on the ballot two years hence Folks are probably aware of We also inherited a troubled so voters have the last word. things we’ve done to serve the information technology (IT) project Along the way, Ron published as Nevada latter charge and promote openness, intended to improve the dismal the first three Controller’s Annual transparency and accountability. record on collecting debts turned Reports (CARs), which won Controller Likely they’re not as aware of the over to the controller by other prizes and praise from a national equally outstanding record on the state agencies. Many IT projects professional organization. In 24 Please indulge us as we ask less visible but equally important experience great cost and schedule pages of data, charts, graphs, tables you to re-elect Ron as Nevada daily nuts-and-bolts ministerial overruns until the plug is pulled and clear text, the CAR details Controller. If Ron wins, James also functions and they produce no usable results. trends and issues in Nevada fiscal gets reappointed Deputy Controller. As with all public offices, We were determined ours would and policy matters, the challenges, Ron’s running on his record and the controller also must operate not be the next one. and some solutions from a public- qualifications. When we discuss economically and effectively. We worked diligently with many interest perspective. below things we’ve done, it’s both So, the first thing we did was cut of our staff, the attorney general, Ron is co-leading business of us, but also 39 other people in spending by 13.3 percent from the finance and other offices, and with process re-engineering for state the office. We’re blessed with an budget we inherited from Ron’s the contractor to implement two agencies and development of an outstanding team of professionals predecessor, as approved by the contract amendments. Just over essential all-functions (accounting, led by talented managers. legislature and governor. In our a year ago, the project came on payroll, administration, budget, Nevada’s controller has back- first 18 months, we turned back line. We’re very proud that in its etc.) enterprise resource planning office duties typical of state over $1-million to the state treasury first year of operation, this project and management IT system. It will controllers, but also an unusual to fund other services and help increased nearly $1.3-million, or fully integrate and modernize state charge to promote: frugality and keep down your taxes. All while 356 percent, instead of cratering business operations by 2022. like so many others. We have also recorded Thus, we proved government outstanding accounting and other spending can be cut while services, operations successes too. operations and revenues are Finally, Ron has led efforts Tips Of Our Cap enhanced. to bring badly needed openness, When the governor and transparency and accountability legislature planned to pass Nevada’s to Nevada’s public employee and largest spending and tax increases retirement system. In addition, he ever, Ron led a group of legislators, has used his economic, financial Bronx Cheers government and non-government and policy expertise to promote professionals, and citizens to craft more reasonable assumptions in the first ever alternative budget. It pension planning. The pension would have increased total spending system is financially seriously in The Penny Press Tips Its Cap To: very slightly – less than the rate of the hole, and without such reforms growth of Nevada’s economy – and it well may become a disaster for The Las Vegas Metropolitan Police Department for obtaining records under county grand jury subpoe- not required any tax increases. It nas in their investigation into $90,000 in Southwest Airlines gift cards secretly purchased by the Las taxpayers, state employees and Vegas Convention and Visitors Authority. Intelligence detectives with Metro got the records in recent was given a clean bill of health by retirees. weeks from both Southwest Airlines and the accounting firm Eide Bailly, which concluded in an audit the legislative counsel and sailed We’ve taken care of both high- that more than $50,000 worth of the gift cards were missing. If only they had looked into the activities through its committee hearing. and low-visibility issues the old of the father of our Senior Senator back in the day. But the legislature and governor fashioned way: by working hard; passed their tax and spend orgy, using sound management and The Cherokee Nation for telling it like it is (as Howard Cosell would have said) where Elizabeth Warren including the very pernicious, professional practices; and working and her phony baloney DNA test in an attempt to prove she really is an Indian—which she is not. destructive and unnecessary cooperatively with other agencies. Commerce Tax, which is similar So, we request your vote. The Penny Press Sends A Bronx Cheer to the margins tax voters defeated And A Bouquet of Weeds To: 79-21 in 2014. So, we worked RON KNECHT with the same folks to craft a and JAMES SMACK The Wacky Jacky backers for their ridicules anti Dean Heller commercials. Do these mentally challenged individuals actually think that Heller is going to be hurt because he lined up behind the President and voted for a repeal and replace Obamacare bill? She’s simply too dumb to be a Senator—and that’s a pretty low bar. www.pennypressnv.com THE PENNY PRESS,OCTOBER 18, 2018 PAGE 6

From The Publisher...OPINION Bicycle Mechanics From Ohio Perfect Example of American Exceptionalism If you’ve ever wondered what President Trump means by do is often overlooked in the political noise. the phrase “American Exceptionalism” you need to visit a 428 acre site in far Eastern North Carolina often called The fact is that a good idea or even a partially good idea Kitty Hawk but actually located in Kill Devil Hills. in America is often worth much more than all the wealth in the European Union, China and South America put together. It is not a battlefield nor a cemetery. That’s why Boeing’s largest competitor is actually about It is the site where, in 1903, a couple of bicycle mechanics 40% owned by European government funds. from Dayton, Ohio designed and assembled the first airplane which successfully made a powered flight. Nations which United States industrial might saved during World War 2 because Boeing invented and supervised There are a few small buildings, a small monument, a the construction of thousands of B-17 and B-29 heavy bookstore and some restrooms but they pale in comparison bombers. to the ground itself which is—and should be—hallowed ground for America. It is so like this nation that a couple We are a nation which has always treasured and honored of brothers named Orville and Wilbur Wright just wanted entrepreneurs—like Orville and Wilbur Wright—because to be able to fly at will. So they set about doing what that’s how things get done in this world. Americans have done since 1776 when some other guys wanted to be free from a King in England. So, when some Left Wing Progressive tells you that somehow people who become wealthy because they took a These guys, the Wright brothers, didn’t go to Harvard or risk are bad, that government is the answer to all of your MIT. problems, get in your Ford, Chrysler or Chevy and drive to the Outer Banks of North Carolina, pay the $10 the In fact, they were high school dropouts. But they wanted government charges to see those 428 acres and remember to fly. And they did. And that, my friends, is what makes that one of the greatest moments ever in this nation was this the greatest nation on the face of the earth. not some Hollywood screamer badmouthing the President but two bicycle mechanics from Dayton, Ohio making the Years later, William Boeing, Donald Douglas, Clyde Cessna, first powered flight ever. William Piper and a host of others made a business out of building flying machines but none of that would have been And the aviation industry they begat. possible had a couple of bicycle mechanics from Dayton Ohio not taken the first step, journeyed to what is now Had America not served as an incubator for great inventions, known as the Outer Banks of North Carolina, built a rail there might not be our ability to take flying 3000 miles in in the dunes and made a four hop powered flight which one hop for a price most people can afford for granted. doesn’t seem all that awesome today but was breathtaking on December 12, 1903. The Wright Brothers preceded William Boeing who preceded Herb Kelleher who is still around to tell you about the early When you’re sitting on a Southwest 737-800 routinely days of Southwest Airlines. And it all happened in less flying from Baltimore to San Diego at 500+ miles an hour than 120 years. at 31,000 feet watching Fox News on your iPad while having an email exchange with a business associate on an Think about that the next time a New York Governor tells iPhone somewhere underneath, it’s easy to lose sight of you that America was never that great in the first place. history and take it all for granted. Right. As if he has the mental capacity to know. One of the things you tend to take for granted is that life has always been thus. FRED WEINBERG

That these things happen because almost everybody in America has the ability to do whatever he or she wants to THE PENNY PRESS,OCTOBER 18, 2018 PAGE 7 Commentary: Robert Ringer Finally — and this one is sure to get me a lot of negative feedback — Lessons from an Attempted Lynching was the fact that she and her husband have been involved in “group marital therapy sessions.” I realize that many people — probably some who are At the risk of being politically incorrect, I have to take issue with the reading this article — have engaged in marital therapy sessions, but group views that most people had of two women in the attempted lynching of marital therapy sessions? Brett Kavanaugh. Not because they’re women, but because they played I can’t grasp why anyone would want to share her marital problems such key roles in how things turned out. with a group of strangers? It smacks of someone who is, for lack of a more First is Susan Collins, whom many, including Sean Hannity, labeled gentle way of putting it, a bit screwed up. The Kavanaugh case aside, nothing less than a hero. He and many Republican senators were effusive attending group marital therapy sessions is, at a minimum, a sign of some in their praise of Collins, with Hannity going so far as to say that her deep-rooted emotional problems. speech was the best he had ever heard on the senate floor. But it got worse. As things unfolded, I became more and more convinced While her delivery left a lot to be desired, there’s no question that that Christine Ford was just another left-wing activist. “Amazingly Collins did an excellent job in laying out the case for Brett Kavanaugh’s credible?” Based on the refutations of all of her so-called witnesses, I confirmation. Much to the Dirty Dems’ dismay, she methodically spelled would say that she has no credibility at all. The evidence is now clear that out precisely what had taken place in the senate’s lynch-mob atmosphere, Ford repeatedly lied to the Judiciary Committee, and if the Dirty Dems and for that she deserves credit. succeed in getting the FBI report released, they may just regret it. Nevertheless, there’s nothing Collins said that you and I — or anyone It will forever annoy me that the Judiciary Committee treated Ford else who followed the confirmation proceedings even casually — didn’t as though she were a piece of fine China, while Kavanaugh was treated already know. It’s not like she uncovered new, exculpatory evidence. like … well … a rapist! Unfortunately, he fell right into the Dirty Dems Which raised the question in my mind, why would Collins take it upon trap and lost his cool. “Aha, gotcha! He lacks the temperament to be a herself to pontificate on the well-known facts of the case at a time when Supreme Court justice.” everyone just wanted to know how she was going to vote? The cynical In this regard, Kavanaugh made a huge mistake when he appeared to side of me says that it was a matter of ego and a morally superior mind-set grovel in his Wall Street Journal editorial. Saul Alinsky taught his left- that is all too common in the nation’s capital. wing radical students to never apologize, never show weakness, never I say ego, because Collins apparently believed her vote was so back down — and always stay on offense. Rather than celebrating, important that she felt compelled to give a one-hour speech when everyone Republicans need to focus on remaining aggressive and never engaging in in the country just wanted to get to the bottom line. I would have been far the hopeless and naïve task of trying to appease the enemy. more impressed had she gone on record a couple weeks earlier and stated Now that this shameful episode in American jurisprudence history is that she intended to vote for Kavanaugh — just like 48 other Republican over — at least for the moment, that is — my concern is that, based on senators did. his Wall Street Journaleditorial, Justice Kavanaugh may at times make So, no, Susan Collins should not be deified for lagging behind her the age-old Republican mistake of trying too hard to convince Dirty Dems Republican colleagues. If Republicans believe her vote on Kavanaugh is that he is “fair minded.” a harbinger of how she will vote in the future, they are setting themselves In this regard, I winced when he told Susan Collins that Roe v up for a big disappointment. Why? Because Collins is a progressive Wade is “settled law.” News flash: There is no such thing as settled — radically and emotionally attached to Roe v Wade — who cannot be law! Just because a liberal activist court made a ruling years ago that counted on to support the Trump/Republican agenda. is unconstitutional doesn’t mean that new Supreme Court justices are The other woman whom I believe has been treated far too kindly by obliged to let it stand. If precedent automatically rules the day, why bother Republicans is none other than Dr. Christine Blasey Ford. I admit that to appoint new justices? immediately following her testimony, I was swept up by the prevailing One final thought: Schumer and his Dirty Dem partners in crime, wisdom that Ford was “amazingly credible.” now more hysterical than ever as they see their judicial legislative power That, of course, was before any of the facts were known. But once slipping away, have been babbling a lot about the need for a “balanced the discrepancies began pouring in, and all of her witnesses contradicted court.” Woe unto Republicans if they buy into this canard. her account of the alleged Kavanaugh assault, I allowed my own feelings The Supreme Court was never intended to be “balanced.” A Supreme to surface. Court justice has only one job: Defend and uphold the original intent of the Without even getting into the massive discrepancies in Ford’s story, Constitution — period. If politicians really cared about the Constitution, three things hit me in her testimony right off the bat. First was the every Supreme Court justice would be a strict constitutionalist. caricature she portrayed — her stuttering, squeaky voice, her snickering Republicans had better keep this in mind as the Dirty Dems become answers, and her mousy facial expressions. All seemed intended to make ever more desperate to mold the court into a legislative body that caters her appear to be a frightened, helpless woman. to its every demand. There is an endless supply of Kagans, Sotomayors, Second was her affected overuse of the word hippocampus, a part of and Ginsburgs waiting to be tapped, and the job of voters November 6 and the brain that few people know much, if anything, about. She sprinkled beyond is to make sure that doesn’t happen. her testimony with several other words exclusive to the professions of ROBERT RINGER medicine and psychology, so much so that I found myself mentally rolling Robert Ringer (© 2018)is a New York Times #1 bestselling author who has my eyes — as in, “spare me.” appeared on numerous national radio and television shows, including The On the one hand she was playing the role of a vulnerable, frightened Tonight Show, Today, The Dennis Miller Show, Good Morning America, victim, while at the same time trying hard to talk above the average ABC Nightline, The Charlie Rose Show, as well as Fox News and Fox person’s head. Speaking for myself, I’ve always mistrusted affectation Business. To sign up for a free subscription to his mind-expanding daily and pretense. insights, visit www.robertringer.com. THE PENNY PRESS,OCTOBER 18, 2018 PAGE 8 THE PENNY PRESS,OCTOBER 18, 2018 PAGE 9 Commentary: Doug French a non-recourse. This gives Rialto even more incentive to refuse loan workouts and to collect asset management fees. It is not rocket science, a bank that has risk of taking a loss is more likely work The Real Rialto with a borrower. Here Rialto has no risk. Typically when a bank fails the FDIC allows other banks to bid on the assets. The winning The Wall Street Journal reported the other day “Lennar Is in Advanced Talks to Sell Its Real- bank then enters into a Loss-Share Agreement where the FDIC agrees to pay 85% of any losses Estate Lending unit, Rialto Capital.” the bank takes on the assets. Lending unit? Really? A Greenwich, CT outfit called Stone Point Capital is reportedly This structure gives the bank incentive to work out a loan and entertain settlement because interested in buying Rialto. The WSJ describes Rialto as “a real-estate investment and they have the potential for a 15% loss. This is how the first of the failed banks were handled by management company that focuses on distressed assets. It was launched in 2007, after the property the FDIC. The PPIP program stemmed from the onslaught of bank failures. Unlike the loss-share market began to teeter, by Lennar and Jeffrey Krasnoff, a former Lennar executive.” End of story. agreements, PPIPs like Rialto have no risk of a loss due to the interest free non-recourse loan, However, that’s not what Rialto is (or was) at all. Rialto Capital Advisors conducted day-to- giving them no incentive to compromise. day management and workout of 3.05 billion in loans the Federal Deposit Insurance Corporation Third, Rialto is paid at least 60% of its attorneys’ fees and sometimes 100%. Given the fact (FDIC) received after it closed down banks during the financial crash. The RE Action Committee that Rialto will incur little to no attorneys’ fees motivates Rialto to sue first and ask questions explained, later because instituting litigation keeps the assets under management for years. Even if Rialto Lennar (Rialto) acquired indirectly 40% managing member interests in the limited liability is required to pay a portion of their attorneys’ fees, it is paid by the Federal Government’s $680 companies created to hold the loans for approximately $243 million (net of working capital Million dollar interest free, non-recourse loan. and transaction costs), including up to $5 million to be contributed by the Rialto management Inequitable federal laws provide the FDIC and Rialto with additional leverage against team. The FDIC is retaining the remaining 60% equity interest and is providing $627 million of borrowers because almost all defenses and counterclaims are precluded by D’Oench Duhme non-recourse financing at 0% interest for 7 years. The transactions include approximately 5,500 Doctrine and the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 distressed residential and commercial real estate loans from 22 failed bank receiverships. (“FIERREA”). The D’Oench Duhme doctrine stems from D’Oench, Duhme & Co. v. FDIC, 315 You might call this a government give away or crony capitalism, but its not a lending unit. U.S. 447, 459 (1942), which is a product of the Great Depression and the creation of the FDIC. The FDIC did the lending at 0% for 7 years. And, the math would indicate the “partnerships” This case sought to invalidate secret agreements between borrowers and a failed bank. “purchased” the loans at 29 cents on the dollar. The purpose of the D’Oench Duhme doctrine is to provide the FDIC with notice of any loan Attorney Bryan Knight wrote an insightful piece entitled “Lennar-Rialto Incentive Analysis” modifications or variances from loan documents. D’Oench Duhme prohibits any claim or defense in 2011. against a predecessor bank or the FDIC unless it is: (1) in writing, (2) executed by the bank, (3) He called the Private-Public Investment Programs (“PPIP’s”), such as Lennar/Rialto “ the approved by the board of directors of the bank and (4) the writing was maintained as an official biggest waste of government spending and most damaging program to the American public.” record of the bank. Porras v. Petroplex Sav. Ass’n, 903 F.2d 379 (5th Cir. 1990). Mr. Knight explained. This doctrine precludes all claims and defenses against the bank or FDIC that don’t meet all The FDIC and companies like Rialto seek to flush out all troubled assets of failed banks by four elements, which include verbal loan extensions, modifications and payment modifications, immediately filing suit, refusing to work out the loan and refusing to agree to a payment plan that fraudulent representations by the bank and negligent lending practices. benefits all parties. This uncompromising and litigious strategy is implemented by Rialto because For instance, if a bank tells a borrower that their loan will be extended, modified or that lesser it produces the most money for them... payments will be allowable and then the bank is taken over by the FDIC, the borrower cannot A number of my ex-borrowers were forced to deal with Rialto and I know what Mr. Knight enforce these representations. claims is true. What follows is the rest of his analysis. An even more egregious example is if a bank induces a borrower to enter into an acquisition There is an inherent conflict of interest between Lennar/Rialto and their duties to collect on and development loan with the promise that the bank will provide a construction loan and loans of failed banks. First, Lennar/Rialto are paid asset management fees based on the amount later refuses, the borrower is stuck with the loan and cannot claim damages resulting from the of assets under management, which provides incentive for them to either do nothing or sue, rather fraudulent representation. than work out a settlement with the borrower. If a settlement if achieved, Lennar/Rialto do not During the Savings and Loan crisis of the 1980′s Congress passed FIERREA to provide get paid management fees. powers and procedures for the FDIC to follow, See 12 U.S.C. 1821. Second, Rialto was given a $600 Million interest free non recourse loan by the Federal One procedural hurdle, codified by 12 USC 1821(d), requires a borrower to file any claim Government to purchase assets of failed banks. Therefore, Rialto has no risk in collecting on against a predecessor bank or the FDIC within 90 days of the FDIC taking over the predecessor assets because no interest is accruing and Rialto is not liable to pay back the loan since the loan is bank, even though the FDIC does not have to give notice of this requirement. See FDIC v. Vernon Real Estate Invs., Ltd, 798 F. Supp. 1009, 1017 (S.D.N.Y. 1992); McCarthy v. FDIC, 348 F.3d 1075 (2003). If the borrower fails to make a claim with the FDIC within 90 days of take over, all claims are waived. Here, there are due process concerns since the FDIC does not even have to give notice of this procedure. Most citizens are not aware of FIERREA and almost always waive their claims. D’Oench Duhme solely affects those borrowers that have trusted relations with their banks,

such that would not require written modifications or documentation for payment adjustments. Most banks that have been taken over by the FDIC are small community banks that tend to have this precise relationship with their clients. FIERREA wipes out a borrower’s ability to make any kind of claim even if it is in writing sufficient to pass D’Oench Duhme. Everyday citizens cannot be expected to know about this 90 day deadline. The FDIC at the very least should be responsible for sending notice of the claims deadline. These two legal doctrines have in essence invalided hundreds of years of legal precedent concerning contract and tort law, which gives Lennar/Rialto tremendous leverage against borrowers, because borrowers are stripped of any defense or counterclaim and left to the mercy of Lennar/Rialto who take full advantage of this power. The big picture is that no one could have foreseen the real estate crash or this financial crisis, which is why the federal government bailed out the big banks that were too big to fail. However, the everyday citizen has received no semblance of help, but instead has been forced to bare the brunt of these negligent lending practices. Rather than give Rialto $600 Million in interest free loans and millions in asset management fees, the federal government should put that money into programs to help workout these loans to keep citizens from financial ruin and businesses from closing, similar to Obama’s mortgage laws. So, this is what Lennar is selling—a company at the center of a dark chapter in America’s financial history that very few people know anything about.

DOUG FRENCH THE PENNY PRESS,OCTOBER 18, 2018 PAGE 10 Commentary: Jennifer Carroll operating within Russia. They would jeopardize any project — no matter Sanctions on Russian Meddling its location — if it involves Russian companies or passes through Russian territory. The consequences of killing American energy projects would Would Backfire reverberate throughout Florida’s economy. Thanks to fracking and increased offshore drilling, the United States is Senator Marco Rubio recently introduced a bill that would impose now the global leader in oil and natural gas production. The glut of natural severe sanctions on Russia if it continues to meddle in American elections. gas has driven down prices. In 2017, Florida’s power plants paid $4.31, on The Senator means well. But the sanctions are so broad they’d damage average, per 1000 cubic feet of gas. A decade earlier, the same amount of America’s economy — even more so than Russia’s. Our oil and natural natural gas cost more than $9. gas industry would bear the brunt of this damage. If American companies are blocked from embarking on new energy Let’s hope Sen. Rubio is willing to return to the drawing board and ventures, production would eventually drop and prices may spike once design a sanctions package that pummels Putin — not Floridians from again. Pensacola to Palm Beach. The Deter Act could also kill jobs. The oil and natural gas industry Sen. Rubio’s bill, which he is co-sponsoring with Sen. Chris Van supports more than 250,000 Florida jobs — many of which would be lost Hollen (D-Md.), is known as the Deter Act — short for the Defending if energy firms are forced to pull out of projects. Elections from Threats by Establishing Redlines Act. It would require the Worst of all, there’s no evidence such sanctions would actually deter Treasury Department to impose sanctions on Russia if the U.S. Director meddling. of National Intelligence detects election meddling. The United States and its allies levied sanctions on Russia in 2014 The Act targets key Russian industries — especially the oil and gas for invading Crimea. Russian hackers responded by infiltrating German, sector. The sanctions would force any American firms involved in joint Dutch, Ukrainian, and Finnish databases. And of course, they attempted ventures with Russian companies to exit those projects. to influence the U.S. 2016 election. American companies that manufacture pipeline equipment, for What can Congress do to counter Russian aggression without hurting example, wouldn’t be able to work on projects with even minimal Russian Americans? One solution is a narrower set of sanctions introduced last involvement. Forbidding joint Russian-American energy ventures would year. The Countering America’s Adversaries Through Sanctions Act of cost the American energy sector up to $100 billion over the next decade. 2017, which has yet to be fully implemented, would make exceptions for Take ExxonMobil’s joint venture with Rosneft, a government-owned certain energy export pipelines and railways that cross Russia and only Russian oil company. The project, known as Sakhalin 1, could extract affect future oil projects. more than 2 billion barrels of oil and 17 trillion cubic feet of natural gas It’s time for Congress to find a more targeted way to push back against off Russia’s eastern shore. If the Deter Act becomes law, Exxon may have Russian aggression. to abandon the project and forego billions in revenue — money that could JENNIFER S. CARROLL otherwise be invested in the American economy. Jennifer S. Carroll served as the 18th Lieutenant Governor of Florida. The sanctions wouldn’t simply prohibit American companies from This piece originally ran in the Orlando Sentinel. THE PENNY PRESS,OCTOBER 18, 2018 PAGE 11 Commentary: Robert Romano opportunity when Antonin Scalia died in 2016, but lacking a Senate After Kavanaugh Confirmed, majority, they were unable to get Merrick Garland confirmed. All they had to do was beat Trump and they would’ve had their way. ‘Democrats’ Immediately Dial Up If Hillary Clinton had won, her choice for the Supreme Court would be sitting there right now. But they couldn’t get it done. Now, it’s over. Another Undemocratic Witch Hunt Which might mean that Democrats have to wait a generation to change the balance of the court, but so be it. That’s our system. Elections to Impeach have consequences. Arguably, prior to the current conservative majority on the court, The noise has barely died down from the Senate’s confirmation of it had been a liberal majority since the Great Depression and the New Brett Kavanaugh to the Supreme Court — a lifetime appointment — Deal. That was at a time when Republicans were politically annihilated and Democrats are already calling for his impeachment without cause, to the point of near-extinction. But nothing lasts forever. As can be seen mirroring the left’s reaction to the election of Donald Trump in 2016. today, eventually Republicans regained power. Readers will recall that almost instantly upon Trump’s win, the effort What the current Democrats of today lack is faith in the system and to delegitimize and prevent Trump from taking power began. First, the the patience to see through their agenda. The scorched earth campaign effort was to convince the Electoral College Trump electors to overturn against Kavanaugh proves it. the outcome of the election, using now-discredited charges that Trump They do not look to the next elections to solve their problems. was a Russian agent. They cannot. Scalia and Kennedy are now both replaced and the oldest When that didn’t work, the FBI’s ongoing surveillance of Trump Republican-appointed justice, Clarence Thomas, is only 70. Their plans world—which began in Oct. 2016 as an “insurance policy”—was used are now conceivably years if not decades away. to foster a series of leaks to the news media, which in turn became leads So they look for imagined crimes and conjure tribunals to hear for the FBI to follow up on, all signaling to the country that Trump was allegations and it is up to the defendants to prove their innocence, under active investigation as he was headed into office. ala Trump and Russia or Kavanaugh’s alleged sexual assault. The A leak about incoming National Security Advisor Michael Flynn presumption of innocence has been the first victim in all of these speaking with Russian ambassador Sergei Kisylak in Dec. 2016 about inquisitions. sanctions became an excuse to question Flynn and then eventually charge Never mind the fact that neither Trump nor Kavanaugh were ever him with lying to investigators by Special Counsel Robert Mueller, even charged with let alone convicted of the crimes they are alleged to have though the agents that questioned him at the time did not think he lied. committed. Simply the weight of the allegations are intended to remove But that wasn’t enough. Trump couldn’t necessarily be removed their political opponents, if stated loud and often enough. for something that occurred before he came into office. They needed But that is not our constitutional system of laws. It’s just an end-run something more. around the Constitution. If they cannot win elections, Democrats have a Faced with the constitutional conundrum that the new administration history of resorting to extraordinary, undemocratic means to implement was under investigation that had been ordered by the previous their political program. But elections are our safe harbor. The society of administration, Attorney General Jeff Sessions soon recused himself, laws is a delicate construct; it won’t take much to break it. allowing the Justice Department to in essence operate independently ROBERT ROMANO absent oversight by the Attorney General — and continue the witch hunt. Robert Romano is the Vice President of Public Policy at Americans for And when the President attempted to intervene — his constitutional Limited Government. prerogative as the sole executive under the Constitution in Article II to lead or conclude investigations by law enforcement — they falsely screamed obstruction, leading to the appointment of Special Counsel Mueller. Extraordinary means have been used to overthrow Trump, and they continue to date. Under the Constitution, of course, these measures are all unnecessary. Elections happen in the House and Senate every two years, and for the presidency every four years. In addition, presidents are term-limited by 22nd Amendment. So the constitutional solution is for Democrats to just wait until 2020, run for president and attempt to beat Trump. Same with Kavanaugh. If Democrats are upset at the 5-4 constitution of the Supreme Court, the solution is to again win elections and attempt to change the balance of the court. They thought they had that www.pennypressnv.com THE PENNY PRESS,OCTOBER 18, 2018 PAGE 12 THE PENNY PRESS,OCTOBER 18, 2018 PAGE 13

Saving a person II livelive from a potential catastrophe*

every 10alonealone minutes! but I’m never alone. I have Life Alert®.

AS SEEN ON TV

Fall Emergency Home Invasion Fire Emergency

One press of a button sends help fast, 24/7, for: medical • fall • fi r e • invasion • CO gas emergencies even when you can’t reach a phone.

FREEUSE OF FIRST AID EQUIPMENT** KIT FREE! WHEN YOU The Medical Alert ORDER! Industry Leader No landline? No problem! since 1987

For a FREE brochure call: 1-888-459-5074 * Life Alert defi nes a person saved from a potential catastrophic outcome, where a subscriber activated the system, had an actual emergency, was home alone, was unable to get to the phone for help, and Life Alert dispatched help. ** With Subscription. THE PENNY PRESS,OCTOBER 18, 2018 PAGE 14 Commentary: Chuck Muth Tao – who also self-describes as a conservative, strict-constructionist How Conservatives Can “Trump” jurist in the mold of Antonin Scalia – which is exactly what we want on the bench. the Nevada Supreme Court Judge Tao is clearly the most experienced judicial candidate running in 2018. He’s a former criminal prosecutor who has served as a District There are seven justices on the Nevada Supreme Court - which, like Court judge and currently serves as an appellate judge – the level just the U.S. Supreme Court before Donald Trump’s election, has tilted left. below the Supreme Court. Indeed, according to Ballotpedia a Stanford University study in 2012 He’s also been endorsed by the National Rifle Association. found that Nevada’s Supreme Court “was the 19th most liberal court” in “On behalf of the NRA Members in Nevada, I am pleased to announce the country. In addition, the U.S. Chamber of Commerce has characterized your NRA-PVF endorsement for the Nevada Supreme Court in the 2018 the Nevada judiciary as one of the most liberal, anti-business courts in the General Election,” wrote the NRA’s Dan Reid. “This endorsement is a nation. reflection of your stance on Second Amendment related issues.” On November 6, Nevada voters can dramatically change that. But just in case there’s still any doubt in conservative minds as to Justices Kris Pickering, Mark Gibbons and are where Tao and Cadish are philosophically, in a recent forum both were generally considered right-leaning judges. Justices Michael Cherry, asked to name the most inspirational judge who they’d like to write a Michael Douglas and Lidia Stiglich are generally considered left-leaning biography on. - with Justice being a “swing” vote who tends more often Judge Tao said Supreme Court Justice Robert H. Jackson who, as to the left side of the equation. Wikipedia notes, served “as the Chief United States Prosecutor at the In Seat F, Justice Douglas is leaving the bench. Abbi Silver, generally Nuremberg Trials of Nazi war criminals” and was “one of the most considered a judicial moderate who leans somewhat to the right, is running committed to enforcing due process as protection from overreaching unopposed. So that’s a step in the “right” direction. federal agencies.” In Seat G, Justice Stiglich – appointed by RINO (Republican in Name Cadish said Ruth Bader Ginsburg. Only) Gov. – is decidedly a left-leaning liberal activist ‘Nuff said. Case closed. judge from San Francisco who will be on the ballot facing voters for the The bottom line is this: With the elections of Silver, Harter and Tao the first time in November. Nevada Supreme Court will shift dramatically from left to right – just as She’s being challenged by Mathew Harter, a sitting District Court the United States Supreme Court has decidedly shifted from left to right judge who self-describes as a conservative, strict constructionist – which with President Trump’s appointments of Justices Neil Gorsuch and Brett is exactly what we want on the bench. Kavanaugh. Judge Harter points out on his website “2 of the more egregious, For Nevadans wanting to avoid the nightmare of becoming “East reported Nevada cases which seem to show that judicial activism is clearly California” in the future, getting these races “right” couldn’t be more my opponent’s personal philosophy.” important. He also points out Judge Stiglich’s shortcomings in the areas of CHUCK MUTH “cronyism,” being funded to the max by personal injury attorneys, lack of (Mr. Muth is president of CitizenOutreach.org and publisher of experience, and poor time-management in her court. You can read details NevadaNewsandViews.com. He blogs at MuthsTruths.com. His views are at www.JudgeHarter.com. his own.) In Seat C, the difference between the two candidates is even more stark. Liberal Judge Elissa Cadish is running to replace liberal Judge Michael Cherry. You may recall that Ms. Cadish was nominated in 2012 for a seat on the federal bench by President Barack Obama, only to have her nomination “blue slipped” by Sen. Dean Heller because of her decidedly hostile views of the Second Amendment. As the Las Vegas Review-Journal reported in March 2013, Cadish wrote on a candidate survey that “reasonable restrictions may be imposed on gun ownership in the interest of public safety.” And when asked whether or not individuals have a constitutional right to keep and bear arms, Cadish wrote: “I do not believe that there is this constitutional right.” As such, Sen. Heller refused to allow her nomination to move forward. Unable to get a confirmation vote, she ultimately withdrew her nomination. Cadish is being challenged by Nevada Court of Appeals Judge Jerry THE PENNY PRESS,OCTOBER 18, 2018 PAGE 15

FREE Gift w/Purchase! No

Landline? No Problem! A Help Button Should Go Where You Go!

To truly travel with confi dence your personal emergency device needs to work on the go.

MobileHelp® allows you to summon emergency help 24 hours a day, 365 days a year by simply pressing your personal help button. Unlike traditional systems that only work inside your home, MobileHelp’s medical alert system extends help far beyond the home. Participate in all your favorite activities, such as traveling, shopping, exercising and gardening with the peace of mind of having a personal medical alert system with you. MobileHelp, the “on-the go” help button, is powered by one of the nation’s largest cellular networks, so there’s virtually no limit to your help button’s range. With our GPS feature activated, we can send help to you, even when you can’t talk or tell us where you are.*

No landline? No problem! While traditional medical alert systems require a landline, MobileHelp is powered by a nationwide cellular network, allowing you to travel virtually anywhere with 24/7 protection and eliminating the need for a landline. Whether you are home, shopping across town, or on vacation, a simple press of your help button activates your system, providing the central station with your information and location. Our trained emergency MobileHelp Features: operators will know who you are Unlike “stay-at-home” emergency systems MobileHelp protects you: and where you are located. I Places where your Traditional Help Simple one-button operation Help Button will work Buttons If you’re one of the millions of I Affordable service people that have waited for a Home I Amplified 2-way voice medical alert service because it On a Walk communication didn’t fi t your active lifestyle, or I 24/7/365 access to settled for a traditional system On Vacation U.S. based operators even though it only worked in I the home, we welcome you to try At the Park GPS location detection MobileHelp. Experience peace of I Shopping Available Nationwide mind in the home or on the go. As seen on:

1-855-501-6677 An FDA Registered Company

$2995 Value Order Now & Receive a FREE Lockbox! Place your door key in this box so that emergency personnel can get help to you even faster.

*Service availability and access/coverage on the AT&T network is not available everywhere and at all times. Fall Button™ does not detect 100% of falls. If able, users should always push their help button when they need assistance. Fall Button™ is not intended to replace a caregiver for users dealing with serious health issues. Current GPS location may not always be available in every situation. MobileHelp is a registered trademark and Fall Button is a trademark of MobileHelp. Patented technology. NBC, CBS News, The Early Show and The New York Times are registered trademarks. The use of the logos does not imply endorsement of MobileHelp from those organizations. MobileHelp is an FDA registered company. MHP-06628A THE PENNY PRESS,OCTOBER 18, 2018 PAGE 16