[Mpls] Mpls schools fell for a Ponzi scheme too: $1.3 million down the drain

[Victoria Heller]

Today's Strib article:
http://www.startribune.com/stories/484/4806445.html

May 4th Strib article:
http://www.startribune.com/stories/462/4806463.html

"Usually a Ponzi scheme involves little old ladies," said Hatch, who put the
foundation's unaudited liability at $77.5 million as of Dec. 31. "To be able
to take that kind of money out of government agencies is stunning."

Attorney General Hatch must be naïve: Real estate developers in Minneapolis
make the National School Fitness Foundation charity folks look like rookies.

Changing a couple of words in Hatch's quote would describe the financial
controls in Minneapolis..... "Usually a Ponzi scheme involves [unwitting
voters]," said Heller, who put the [City's] unaudited liability at $2
billion as of Dec. 31. "To be able to take that kind of money out of
[current and future Minneapolis taxpayers' pockets] is stunning."

Oops - there I go again - shining light on every crook and nanny.

Vicky Heller
North Oaks and Cedar-Riverside