No, not $56,000; try $475,000???

Just 45 minutes ago the Chicago Tribune released a story about Phil Pagano's money relationships with Metra.

Read it at www.chicagobreakingnews.com/2010/05/metra-to-get-report-on-pagano-probe.html

-"improperly took at least $475,000 in vacation pay"

-"forged the agency chairwoman's signature on two memos"

-"According to the summary released today, Pagano had also devised several complex financial agreements with Metra totaling about $1 million and borrowed about $839,000 against them. At his death, Pagano still owed Metra $127,000."

Pagano certainly didn't reach into the bottom drawer of his desk and pull out the checkbook to write himself checks on the Metra account.

What kind of sloppy financial controls were there at Metra? What employees were already in place who should have watching for that kind of activity? When somebody, somewhere, in Payroll or Accounts Payable saw this activity, why didn't he or she blow the whistle? Who signed off on Pagano's deals with Metra?

Sure, Metra is going to close the gate after the horse escaped. Where was the Board of Directors in all this? Were they really minding the store?

And the big question is, in how many other agencies and public bodies is something very similar to this going on right now?

While you're at it, check out the Sun-Times article at www.suntimes.com/news/transportation/2274132,metra-phil-pagano-suicide-051410.article

Any opinions on Jack Schaffer's comment - "“We have been guilty of not thinking the unthinkable,” said Metra board member Jack Schaffer during the meeting."

That's what those guys get paid to do; right? Think the unthinkable?