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The following infor- mation is compiled from Red Bluff Police Department, Tehama County Sheriff 's Department, Corning Police Department and California Highway Patrol. Arrests •Jennifer Teresita Bauer, 28, also known as Jennifer Teresita Calderon, Red Bluff, was arrested Wednesday evening on Whitmore Road by the Shasta Interagency Narcotic Task Force on suspicion of cultivating marijua- na, keeping a place to sell narcotics and child cruelty. Bail was set at $45,000. •Juan Antillon Gutierrez, 44, Corning, was arrested at the Social Services Depart- ment by the District Attorney's Office on suspicion of grand theft. Bail was set at $10,000. •Jose Alfonso Torres, 28, Gerber, was arrested Wednesday night on Santa Rosa Avenue by the TCSD on suspicion of receiving known stolen property. Bail was set at $10,000. Threats A woman reported a man in Corning threat- ened to beat her up and blow her up Wednesday night on Kimball Road. Scam Gerald Orval Steele reported giving his credit card to a scammer after he was convinced he won a Jamaican lot- tery Wednesday morn- ing on Fourth Street. Theft •A black 1996 Chevrolet Tahoe was reported stolen Thurs- day morning from an orchard near Dave's Automotive in Dairyville. The car had the license plate 3PZA521, and the dri- ver's keys and wallet were inside. •A firearm was reported stolen Wednes- day afternoon from Ven- tura Avenue. It had the serial number TFN4945. •Richard Cotten reported the theft of items from his vehicle Wednesday morning on Cornelius Court. Sever- al of his belongings were later recovered when police responded to a separate report of a car with smashed win- dows at the corner of Gerber Road and San Benito Avenue. •Daniel Scott Gal- lagher reported tools stolen from a locked vehicle Wednesday morning on Pine Street. •Daryl Easy Ballow reported the theft of three bundles of R30 insulation from a barn Wednesday afternoon on Chase Avenue. It is believed the bundles were taken sometime in the last week, and the loss is $200. •A purse was report- ed stolen Wednesday evening from More For Less in Los Molinos. •A patron reportedly left Kwik Kuts Wednes- day afternoon without paying for a haircut. Odd • A purse was report- edly left in a mailbox Wednesday afternoon. Crash • A driver in a 2001 Ford Taurus wiped out an advisory sign in a hit and run crash about 10 a.m. Wednesday at the intersection of San Ben- ito Avenue and Gerber Road. The vehicle, which had moderate damage, was driving north on San Benito Avenue when the driver allowed the vehicle to drift onto the east shoul- der where it hit the sign, which crashed through the windshield. The vehicle stopped a few hundred feet north of the collision where it was found abandoned after the driver fled the Friday, February 5, 2010 – Daily News – 3A Come in and check out our $ 4 99 Lunch Specials We are open and NOT CLOSING Mon thru Fri 11-3 200 So. Main St. Red Bluff, Ca 529-9488 RAIN OR SHINE 3 or more pet discount CASH ONLY SATURDAY, FEBRUARY 6 TH RED BLUFF Reynolds Ranch & Farm Supply 501 Madison, Red Bluff 12:00-2:00 MOBILE PET VACCINATIONS (916) 983-4686 (Not affiliated with any other vaccine clinic) PRESCRIPTION FLEA PREVENTION ALSO AVAILABLE LOW COST VACCINE CLINIC Mobile Pet Vaccinations DOGS ON LEASH Distemper/Parvo (6-in-1) and Rabies............. $ 15 Distemper/Parvo (6-in-1) Corona, Rabies & Bordetella....... $ 25 Distemper/Parvo (6-in-1)............. $ 10 Rabies Only.... $ 7 CATS IN BOX Feline Distemper (3-in-1) and Rabies ............. $ 15 Rabies Only .... $ 7 Leukemia......... $ 12 All Three .......... $ 25 Call Sue Hubbard today (530) 527-2151 ext 122 Show them your love is true with a Valentine Greeting Box In a special full color featured grouping Only in The Daily News Saturday, February 13 Just $39 00 Full Color – Internet Included 2.5" x 2" ❤ Thank your customers for their business ❤ Offer a February Special...Whatever! Local Business Local Customers Love Local Calendar To add an upcoming event in the Local Calendar, submit information well in advance to the Daily News, attention Calendar, P.O. Box 220, Red Bluff, 96080 or e-mail to clerk@redbluffdailynews.com. Include a contact name and telephone number. FRIDAY, FEBRUARY 5 Red Bluff Al-Anon, 6-7 p.m., Presbyterian Church, Jefferson and Hickory Bingo, doors at 5:30 p.m., early birds at 6:30 p.m. Red Bluff Community and Senior Center, food available Celebrate Recovery, 6:15 p.m., Vineyard Christian Fellowship, 738 Walnut St. 527-2449 Knit for Kids, 9:15 to noon, Presbyterian Church, 838 Jefferson St., 527-0372. Mommy and Me Breastfeeding Class, 10 a.m., Red Bluff Family Resource Center, 220 Sycamore St. Suite 101, 528-8066 Tehama County Education Foundation, board meeting, 7:30 a.m., Tehama County Department of Education, 1135 Lincoln St. The Magic of Movies Tom Hanks Film Series: "A League of Their Own" 7 p.m. State Theatre, 333 Oak St. $5 and $4 for teams of 5 or more Corning Adult Wood Carving Class, 10 a.m. to noon, Corn- ing Senior Center, 1015 Fourth Ave, 824-5669 Spanish Adult Education, 8:30 a.m. and 1:30 p.m., Corning Family Resource Center, West and South streets, 824-7670 SATURDAY, FEBRUARY 6 Tehama Central Tehama Little League registration dead- line and tryouts for minors and majors, 10 a.m. to 2 p.m., Mill Creek Park, Kendee, 228-2628 SUNDAY, FEBRUARY 7 Corning Evangelist services, 7 p.m., Family Bible Church, 609 Marin St., 824-9989 MONDAY, FEBRUARY 8 Red Bluff Al-Anon, 6 p.m., Presbyterian Church, Jeffer- son and Hickory Cardiac Support Group, 7 p.m., St. Elizabeth Community Hospital, Columba Room. For informa- tion call Loree at 527-5077 HIRE (Head Injury Recreational Entity), 10 a.m., St. Elizabeth Community Hospital, Coyne Center, Rusty, 529-2059 Key to Life, 6 p.m., Red Bluff Family Resource Center, 220 Sycamore St. Suite 101, 528-8066 Red Bluff Community Band, 6:45-8:45 p.m., Red Bluff Community / Senior Center, 1500 S. Jackson St., 527-3486 Spartan Athletic Booster Club, 6:30 p.m. Red Bluff Union High School Media Center/ Library Sun Country Quilters Community Service Group, 9 a.m. to 3 p.m., Red Bluff Family Resource Center, 220 Sycamore St. Suite 101, 528-8066 Tehama County Sheriff's Search and Res- cue, 7 p.m., Stillwell Training Center, Park Ave. near Baker Road. 527-7546 Corning Corning Neighborhood Watch, 5:30 p.m., city council chamber, City Hall, 794 Third St. Narcotics Anonymous, 7 p.m., 815 First St., 385-1169 or 566-5270. Meetings are everyday through Saturday with an additional meeting at noon on Mondays. Sewing group, 9 a.m., Corning Family Resource Center, West and South streets, 824- 7670 Spanish Adult Education, 5 p.m., Corning Family Resource Center, corner of West and South streets, 824-7670 Strategies for Success, Life Skill classes, 1:30 p.m., Corning Family Resource Center, West and South streets, 824-7670 Tehama County Mental Health Stakeholders meeting, 1 p.m., Rolling Hills Casino, Carlino's Event Center Richfield Richfield Neighborhood Watch Program, 6 p.m., Richfield Elementary School, 23875 River Road, 824-6260 TUESDAY, FEBRUARY 9 Red Bluff New Events Committee, noon, Tehama District Fairground Board Room Will someone you Love read the Valentine Love-Line Messages In the Daily News on Saturday 2/13 And wish there Was one there From YOU? You can place yours By phone any time Before Wednesday February 10 at 5 PM! 527-2151 Daily News Classified News tip? Call 527-2151, Ext. 112 Police reports Ignoring lessons of history will cost the US dearly "Those who cannot remember the past are condemned to repeat it." That profound statement was made more than 100 years ago, in 1905, by philosopher George Santayana. It has never been more true than in the financial and economic headlines of today. If you don't learn from history, it could be costly to your finan- cial future. Even if you only vaguely remember your high school his- tory, you must feel a nagging sense of deja vu as Con- gress debates restoring the banking regulations once known as the Glass-Steagall Act, which was passed in 1933, in the midst of the Great Depression. In that era, replete with bank failures, the act created the Federal Deposit Insurance Corp., designed to restore confidence in the finan- cial industry. Glass-Steagall also created clear rules around what a bank that accepted public deposits could -- and couldn't -- do with the money. It separated "invest- ment banks" from "commercial banks." Thus, investment banks like Goldman Sachs and Lehman Brothers could only act as bro- kers and traders, not as insured deposit-takers. The rules blurred over the years as banks became large businesses. In 1999, Congress formally repealed Glass-Steagall when it passed the Graham- Leach-Bliley Act, which opened the door for financial companies to wheel and deal in the markets. But after the failure of Lehman in September 2008, many of the remaining "investment banks" rushed to convert to regular bank charters, so they could access the government bailout money. The explanation above may seem like a mere history lesson. But it has huge implications. Today, Congress -- both political parties -- is at it again. They're proposing huge changes in the financial markets system. And just as in 1999, many of these proposals lack even basic insight into the far-reaching conse- quences. But why should that be a sur- prise, when politicians' foresight is limited to the next election cycle? Here's a look at some of the economic pitfalls that defy the lessons of history: Taxing banks. It's tempting to jump on the bank-tax bandwagon. That's because it's absolutely disgusting that banks pay huge salaries and bonuses to their employees, while the taxpayers who bailed them out are still standing in unem- ployment lines, and nearly half a million more people apply for job- less benefits each week. But the proposed tax on banks would simply drive them off- shore, where they could escape regulation around lending prac- tices. There is absolute- ly no reason a bank must be headquartered in New York. And for those banks that chose to remain based in the United States, the global economy would not be possible without allowing them to access international markets. Glass-Steagall worked for more than 50 years. That might be a good place to start if you wanted to create, and tweak, a law for today. Bashing China. It's undeniable that Chinese companies pay their workers less, and thus offer prod- ucts in the United States that cost less -- even considering trans- portation costs. And they have fixed their exchange rates to keep prices affordable for Americans. The benefits for consumers are lower-cost imports. The huge drawback is the loss of American jobs to Chinese workers. But creating a trade war with China is not the answer. Every dollar we send there to pay for our purchases is a dollar they can, and do, reinvest by purchas- ing our Treasury bills, notes and bonds. In other words, they are financing the deficits we are run- ning to "stimulate" our economy. If they didn't lend us money at low interest rates, we'd have to scramble to borrow money. And just like payday loans, we'd pay a lot more interest. In 1930, there was a similar concern about cheap foreign imports taking away American jobs. Congress passed the Smoot-Hawley tariff, which raised duties on more than 20,000 import- ed goods. Other countries retaliated, causing a drop in world trade and deep- ening the global reces- sion. We should learn from that history before picking a fight with our trading partners. Dumping Fed chair- man. There's not much to like personally about Ben Bernanke. But would you rather have Alan Greenspan back in charge of the money? He's the guy who couldn't see the bubble, and in fact kept pumping more air into the balloon. He even encour- aged homeowners to take out those adjustable-rate mortgages (which trig- gered an angry column here a decade ago). The Fed has an impossible job -- keep the value of our money constant, and promote full employment through a growing economy. It's a tough enough job in any case, but to allow Con- gress to politicize it would be an even greater mistake. If you want a lesson from his- tory, just look at our growing budget deficits, as elected offi- cials push off today's problems until tomorrow (after the next election). That's why we now have a national debt of more than $12 trillion, and counting. If politicians can't learn from America's financial and econom- ic history, the voters should teach them a lesson. And that's The Savage Truth. Terry Savage is a registered investment adviser and is on the board of the Chicago Mercantile Exchange. She can be reached at www.terrysavage.com. She is the author of the new book, "The New Savage Number: How Much Money Do You Really Need to Retire?" Terry Savage The Savage Truth on Money