The Joplin Globe Editorial Board says we're better off without Wallace-Bajjali.
The spirit of Joplin will prevail and it won't be long before we forget the con artist that Councilman Bill Scearce so accurately describes as "a snake oil salesman."
While council members, including Scearce and Ben Rosenberg, were early skeptics about the former Sugar Land mayor's ability to attract $894 million in development to this tornado-ravaged city, the Joplin Globe donned its cheerleading outfit, shook its pom-pons, and brought out the heavy artillery for anyone who dared question this company, which was recommended by a citizens advisory team that sometimes seemed more intent on pushing a vision of Joplin its well-heeled leaders had sought for years than in easing the day-to-day recovery of the thousands who were affected by the events of May 22, 2011.
If the Globe ever investigated Wallace-Bajjali its results never made its pages. The sole extent of its mention of the SEC fine against Wallace and Costa Bajjali made it appear that the two were innocent victims of an unscrupulous businessman, when the SEC documents and information that has been filed in lawsuits in both state and federal courts makes it clear that Wallace-Bajjali was violating SEC regulations and pushing a highly questionable investment scheme.
And not once did the Globe ever mention David Wallace's involvement in at least seven bankruptcies.
Not once did the Globe ever mention that as part of the SEC settlement with Wallace-Bajjali, it was required to repay its investors $450,000 by December 31, 2012. They were unable to do it. The deadline kept being pushed back until it was finally set at December 31, 2014. The investors who put their faith in Wallace-Bajjali years ago to this date have received the same amount of money the city of Joplin has received- not one penny.
None of this was reported in the pages of the area's newspaper of record. All we ever heard from the Joplin Globe was a Rohr of approval for Wallace-Bajjali.
And now the Globe is editorializing, without a single mention of its role in propping up Wallace-Bajjali.
Probably more troubling than the money spent is the waste of momentum and the waste of time that Joplin will never be able to get back. The loss of public confidence is also a concern.
If there is anyone who should know about the loss of public confidence, it is the Joplin Globe.