What this puff piece fails to mention is that Mr. Cain served as director for a company that pulled an Enron on its employees. The company is Aquila, an energy corporation that began dabbling in high-risk energy trading in 1999. Aquila executives aggressively encouraged their employees to invest their retirement savings in Aquila by creating incentives and engaging in dishonest practices that gave the company artificially positive growth trends. Aquila's stock took a massive nosedive and lost %94 of its value between 1999-2004, which decimated the millions of dollars that employees had invested. You can read about it all here:
As an aside, it astounds me that his service as director at a Federal Reserve branch is considered an asset. The Fed is arguably the single most responsible entity for the mess our country is in. The Fed can print money whenever they want for any reason that seems worthy, and much of it is done under the shroud of secrecy. A partial audit on the Fed was conducted and we learned that in 2009, they loaned 15 trillion dollars, 1/3 of that went to foreign entities. We have no idea what business the Fed has conducted in 2010 or this year. Considering we are $16 trillion in debt, the Fed is only exacerbating the problem. And contrary to the response he gave to Ron Paul during the last debate, Mr. Cain did explicitly state in 12/2010 that he did not see the need for a Federal Reserve audit. Listen to the audio here:
The Real Herman Cain: Federal Reserve Insider and Apologist
This isn't the kind of man I want to see in the White House. Just seems like more of the same.
I don't see how this is a Breaking News article. Granted as a Christian I disagree with this pastor's actions, but this article seems to be more of a vehicle for Mr. Cooper through which he expresses his disapproval.