“I quit. Friday I walk away from the company I started 20 years ago and grew into 650 U.S. employees and $1 billion in sales of over 100 new medical devices. I didn’t quit because I’m old—I’m 56—or want to play golf. The reason I sold my company and ended a career I loved is to avoid the risk of being criminally prosecuted under the federal government’s “responsible corporate officer” doctrine for the second time.” ~ Howard Root, WSJ
By Catherine Austin Fitts
Inasmuch as a heroic tale with a happy ending always inspires us, you will enjoy our next Solari Report.
Meet Howard Root, founder and former CEO of Vascular Solutions, Inc. Howard started Vascular Solutions with an idea and $300. He sold it last month to Teleflex, Inc. for $1 billion. Along the way, he defended himself and his company against an unwarranted DOJ prosecution at a cost of $25 million. His success after five years of litigation while continuing to lead a publicaly traded company is a legal and business thriller – one that he and co-author Stephen Saltarelli retell in Cardiac Arrest: Five Heart-Stopping Years as a CEO on the Feds’ Hit List.
What Howard describes in Cardiac Arrest is the “criminalization of America” – a phenomenon that will destroy our economy if left unchecked. He closes the book with a series of practical, sound improvements we can make to our justice system to reverse course.
The WSJ described the Vascular Solutions litigation in an editorial in April 2016:
“It’s a good day when an honest company succeeds against attempts to criminalize an honest business. Even sweeter would be if Congress and DOJ used the occasion to institute reforms to ensure accountability for prosecutions that never should have happened.”
In the hopes that reform is sooner rather than later, I ordered a copy of Cardiac Arrest for Attorney General Sessions, asking him to meet with Howard when he is in Washington in the first week of April. My letter is shown below. If your senator is a member of the Senate Judiciary Committee, I invite you to send them a copy. If not, you can send one to Attorney General Sessions as well.
It’s the last week of the month so no Money & Markets. I am headed to Belgium and the Netherlands this week. Get ready for the 1st Quarter Wrap Up – the Clash of Civilization the following week when I will respond to your next round of questions for Ask Catherine.
Talk to you Thursday!
LETTER BY PRIORITY MAIL
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Of all the early breakthrough rock & roll artists, none was more important to the development of the music than Chuck Berry. He was its greatest songwriter, the main shaper of its instrumental voice.
Born: October 18, 1926, St. Louis, Missouri, USA
Died: March 18, 2017, St. Charles, Missouri
Spouse: Themetta “Toddy” Suggs (m. 1948-2017)
Children: Ingrid Berry, Aloha Berry
Parents: Henry Berry, Martha Berry
Active from: 1955
Associated acts: Sir John Trio
Genre: Early R&B, Pop/Rock, R&B
“In a digital age, data about money is worth more than money” -Nicholas Negroponte
By Catherine Austin Fitts
This week on the Solari Report, I will present a live seminar called “Unpacking Your Financial Ecosystem.” I will begin at Midnight GMT, 8pm EDT, 7pm CDT, 6pm MDT, 5pm PDT, 8am HKT, 11am AEDT. My presentation will take an hour – questions will add up to another hour, for a total time of up to 2 hours.
I will introduce steps you can take to identify and understand the local, state, corporate and foundation financial flows and assets that impact your finances and local economy. I will focus on US examples. If you are a citizen of another developed country, you should be able to extrapolate information about financial flows and assets within your own national, regional, and municipal jurisdictions.
If you are attending live, make sure you are logged in and able to post in the comment section of this commentary. I would encourage you to post notes, comments, and questions as we proceed.
We will post access information to our webinar URL for subscribers on Thursday morning so make sure to login and check the subscriber links. The audio, referenced links and notes will be included in the subscriber section of this commentary by late Thursday night or Friday.
In Money & Markets this week I will discuss the latest in financial and geopolitical news. Make sure to post or send your questions to Ask Catherine.
In Let’s Go to the Movies, I will review Hidden Figures about three brilliant African-American women who worked at the National Aeronautics and Space Administration (NASA) during the 1950’s Space Race and the successful NASA effort to send John Glenn into earth orbit. It is an inspiring, entertaining cinematic depiction of the importance of meritocracy if we wish to achieve excellence, and to accomplish “the impossible.”
We can all use a refreshing reminder of what can happen in America when we strive for greatness and when excellence and performance determine our leadership rather than criminality.
Talk to you Thursday!
“Justice is a big rug. When you pull it out from under one man, a lot of others fall too.” ~Dorothy Kilgallen
Earlier this year, the New York Post reported that the Manhattan District Attorney’s office had opened an investigation into the death of Dorothy Kilgallen, who died 51 years ago while investigating the death of President John F. Kennedy.
This new investigation was inspired by a new book by criminal attorney Mark Shaw, The Reporter Who Knew Too Much: The Mysterious Death of What’s My Line TV Star and Media Icon Dorothy Kilgallen.
The untimely death of reporters, movie makers and authors are always worth noting. Someone interrupts the covert flows, creating liabilities for those managing events. Interrupters must be dealt with, transparency is not allowed. An assassin is sent. For a brief period of violence and grief, a death marks the unreality of our official story.
That is why so much can be learned about what is truly going on by studying these deaths as the anomalies that give the underlying powers away.
An extraordinary number of people were killed to cover up the conspiracy that ordered and financed the assassination of President Kennedy. Like so many of them, the story of Dorothy Kilgallen’s life and death is a reminder that many bright and brave people live among us and fight for the truth every day.
Compliments to attorney and author Mark Shaw for making sure such an important story is not forgotten.
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