McGraw wins one, and the loser could be you
News Service Jan. 20, 2012, 4:15am
Because he refuses to release his transcripts, we can only guess what subjects President Obama studied in college. But it's our guess that economics wasn't one of them.
This week, while announcing his intention to continue obstructing construction of an enormous pipeline project that would generate tens of thousands of jobs, the President made the preposterous assertion that the extension of jobless benefits he favors would do more to create employment opportunities.
Paying people who are not working will increase employment? You want to run that by us again? It was a head-scratching moment for anyone who knows how jobs are created.
Unfortunately, the President is not the only one who can't tell the difference between theories and hard reality.
West Virginia Attorney General Darrell "Quick Draw" McGraw seems to have similar cockeyed views.
Old Quick Draw thinks that making West Virginia a hostile environment for business is good for our state's economy.
Granted, when he uses our legal system to beat down successful companies operating within our borders, he sometimes manages to extract sizable tributes. But where do those tributes go and how long will it be before his victims abandon our state for greener pastures, taking their jobs with them?
This week, McGraw announced that he had reached a $13.5 million settlement with Capital One over credit card practices he deemed abusive.
Though denying liability, the bank agreed to provide $3 million in debt forgiveness to West Virginia consumers, $9.5 million to the State for financial relief for consumers, and $1 million to Quick Draw's office for consumer education and restitution.
"This was a hard-fought battle," McGraw commented, "resulting in a lot of money for the state of West Virginia."
A lot of money for the state of West Virginia? Really? How many West Virginians will see or benefit from any of it? How many West Virginians will suffer instead from the repercussions of these ongoing attacks on businesses in our state?
It doesn't add up.