Walter Raquet, who is the co-founder of Knight Financial and also a whistleblower who uncovered one of the biggest financial frauds in history has written a new book: titled Government is Killing The Economy. In it, is says we should create boards of business people to oversee goverment and reward whistleblowers who uncover fraud, “Unleashing the millions of whistleblowers is a key to stopping waste, fraud and abuse and save the American taxpayer billions of dollars a year Raquet says over-regulation and waste crippling American business, causing the middle class to stagnate and young people to lose hope. The American Dream is fading.
The three biggest problems he sees are: Over-regulation such as the 74,000 pages of regulations and commentary on them comprising the U.S. Tax Code; uncontrolled and unexamined government waste; and public and private fraud. All of this has resulted in the middle class not getting any wage increases for more than 15 years, and younger people losing hope that they can benefit as their parents did from America’s promise.
Raquet, who uncovered a massive fraud at Sentinel financial services company in the 1980s, says rewarding rather than punishing whistleblowers will stop a lot of ongoing illegality. “Unleashing the millions of whistleblowers is a key to stopping waste, fraud and abuse and save the American taxpayer billions of dollars a year,” Raquet writes. He says none of these recommendations are political. He’s sending a copy of his book to Hillary Clinton and Donald Trump, as well as members of Congress on both sides of the aisle.
Raquet is planning a campaign to offer his recommendations to the country he loves. Government is Killing The Economy is his first step.
At the age of 26, Walter Raquet was the corporate controller of the 10th largest Wall Street firm. Today, at the age of 71 he is guiding the CEO of a clean air and energy savings company (AtmosAir.com) to make that firm grow to a multi-billion-dollar enterprise in the next three years.
Jeffrey Newman represents whistleblowers