Douglas expected to win re-election, new analysis shows

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Since his days as the VT Treasurer and now as VT Governor, James Douglas has demonstrated a consistent "record" of disregarding the law and violating the rights of people!

Even though the US District Court for the Eastern District of Calfornia and the US Court of Appeals for the 9th Circuit in the matter of Taylor v. Westley stated that the system then used in California (and every other state in the nation) in regards to the handling of the billions of dollars in abandoned/unclaimed property, Douglas, like other state leaders across the nation have refused to force changes that both courts have said clearly violate the rights of people and what the courts hinted constitutes as the biggest nationwide fraud involving public officials.

The courts both said, that although California's abandoned/unclaimed property system provides the "most notice" before and after seizure, after a thorough examination of the methods California used to let people know that their property (usually uncashed money orders, dormant bank accounts, etc.) would be turned over to the state, before and after the states acquired the property, the courts said it wasn't sufficient.

In Vermont now over $44 million is due roughly 240,000 claimants! With an exception of the State Treasurer's web site, and an occasional telephone call to someone listed, the State of Vermont does very little to notify claimants that they have property in the hands of the state!

There also seems to be a correlation that the regulatory agencies that govern the financial and insurance industries that says that despite tens of thousands of claims turned over to Vermont which have absolutely no known "last known address" nothing is done to find out why this is taking place. How can one do business with a financial or insurance company without some kind of last known address? With free and paid databases where anyone can find anyone, never mind take just the social security number (which is required for most banking transactions for example) and not come up with some "last known address".

It isn't surprising that the institutions which turn over these funds to the states and certain federal agencies do so in such volume without making a real effort to let the owner of the property know before hand that it will be turned over, since states and federal agencies routinely reinvest this "surplus money" back into "investments" which are publicly announced as "RFPs" a/k/a "Requests for Proposals" where an agency will say we have x million dollars that we want to invest for y number of months.

So if you were a banker, and you had lots of "profit loosing accounts" where the cost to "service" these accounts in terms of postage and stationary costs just to send out the statements themselves, never mind the other costs that an institution incurs for every account, what better way than to concoct laws which REQUIRE that these institutions turn this money over to the states or a federal agency. What's more, in every case these agencies are require to invest this surplus money back into the industry as investments! So as a banker you make a superficial attempt to notify these small depositors, and you have an officier of your institution swear under the penalties of perjury that you diligently complied with the notice requirements, and you sign an agency provided form which says that even though there is no last known address for your customer, that you somehow complied with the due diligence requirements of the US Constitution to notify such about to be ex-customer that their property would be turned over to the state (or a federal agency)!

Jim Douglas was the VT Treasurer charged with running Vermont's abandoned/unclaimed property fund. Now as governor, he is suppose to insure that all state agencies including but not limited to the Treasurer's staff complies with the law!

Wouldn't you think that a prudent governor, who sees that California may face damages, penalties and other losses more than a trillion (not a billion or million) dollars, that not only Douglas, but every other governor and federal agency heads (like the US Postal Service) would immediately start to correct thewir own operations?

Douglas has demonstrated that although the distribution of $44 million which has already been determined to be owed by the State of Vermont to these claimants, and that by distributing this money not only would the State of Vermont be in compliance with the requirements of both state and federal laws, but would in-effect be an "economic stimulus" to the entire state which would not come a the expense of the taxpayers above and beyond the lastest misguided "economic stimulus" that everyone with knowledge has said was nothing but a complete failure!

It is time that the voters in Vermont got smart and found someone who can truly lead this state, and not into what certainly will be financial ruin when the taxpayers eventually will have to pay for the serious mistakes of Douglas, Jed Spaulding - the current VT Treasurer and the entire legislature for their acts/omissions!