THERE IS CORRUPTION in the administration of securities laws and rules in the State Of Minnesota. The very people charged with administering our securities laws and rules routinely violate and ignore them. This results in the routine violation of the due process rights of small companies in Minnesota and elsewhere. To complicate this matter, the Attorney General's Office then operates as "Attorneys" for the Commerce Department. Thus defending and protecting their illegal actions. Who, in the Attorney General's Office will protect the interest of small business from such illegal State Agency abuse? THE NET RESULT is great expense and delay to small business. Often, as in the case of SolarAttic's SCOR Filing, illegal demands are made upon a company which cannot even be complied with. Is a corporation suppose to change its board of directors at the illegal whim of a state bureaucrat? These types of illegal and corrupt actions of the Securities Division were brought to the attention of Attorney General Skip Humphrey in 1995. Why, now in 1999, do these same problems STILL exist for small business? EVERYONE PAYS IN MINNESOTA through lost jobs and opportunity. That is because an "Entrepreneurial Engine" drives job growth. That is, it drives good jobs. Jobs with dignity and good pay! It is the securities laws and rules that allow these companies to raise the equity capital they need to build these businesses. Corruption at the state level which is protected by the Attorney General coupled with state laws that prohibit lawsuits that could correct the problem is exactly why small business leaves Minnesota. EVERY MINNESOTAN SHOULD CARE. It could be your business that will exit the state next! It could be your lost job opportunity! And, it is certain to be your higher tax bite as a direct result of such corruption!
Edward G. Palmer, CEO |