SerialBrain9 wrote on Jan 11
th, 2025 at 4:11pm:
You've got to ask, after the chicanery of big business/banking that caused the GFC, how do people get away with this shyte?
The Resnicks should be in the sights of the FBI or CIA for corruption .... from what I've read they should be in jail for what they've done behind closed doors with bribery & corruption.
So should a whole heap of public servant bureaucrats i.e. the Mayor of Los Angeles, the CEO of the Water Board and the DEI advocates running the Los Angeles Fire Dept.
Like the sale of "derivatives" & dodgy mortgages
that companies insured to fail by the Banks & Insurance Companies during the GFC ... the Resnicks sell "paper water" i.e. water that doesn't even exist back to the state ... water which is allocated but never given .... instead they just take more water for the agricultural business.
Quote:These groups, a mix of private companies and public agencies, rewrote California’s water laws without any input from voters, taxpayers, or legislators. The new laws, called The Monterey Plus Agreement or The Monterey Amendments were devastating for working Californians and great for agriculture billionaires.
The original law had “urban preference” a long-standing rule that in times of drought the state water board would give urban areas–where people live–access to state water supplies before agricultural interests. Monterey axed that. That means that in times of drought the water systems for normal Californians would have to buy water from the private companies, because they weren’t getting it from the state.
The new agreement also loosened regulations on “paper water.” That’s water that doesn’t necessarily actually exist anywhere but on paper: the full quantities of water that providers could have, but don’t actually need to have. Today 5x as much water has been promised and sold as actually exists.
Quote:Boom. One secret meeting and the Resnicks owned nearly 60% of an important California water resource, built with hundreds of millions of dollars of taxpayer money.
The new ownership combined with the rules on paper and surplus water meant that during times of drought the Resnicks could sell Kern water back to the state water systems.
They took Californian taxpayers’ water and sold it back to them– both literally as the water supply, and also to grow expensive food like gourmet pistachios and pomegranate juice. They converted the peoples’ water into products many can’t afford.
And that’s just one waterbank, the Resnicks also have control of other water boards and have been sued for directing more water towards their properties.
So how do they get away with this Chinatown-level chicanery? With philanthropy!
https://perfectunion.us/how-this-billionaire-couple-stole-californias-water-supp...