Wednesday, March 4, 2009

Investors and Developers Control Comptroller's Campaign

Investors and Developers
Who Controls the Next

Lawyers and developers contributed almost half of the funds to the three major candidates running for Comptroller. Of the 4,636 listed occupations (5,779 in total) on the contributor list, 826 are listed as lawyers. But even 826 is not the true number due to the fact that the candidates mislabel the contributors' occupations on the list. The same can be said for the 344 real estate contributors. Bruce Slovin of 1 Eleven Associates, as a lot of contributors did, gave to more than one candidate. Weprin's contributor Slovin, is listed as "Real Estate Agent", while Katz called him an "Executive" in her listing. Peter Fine of Atlantic Development is listed by Katz as an Exec, Yassky listed him as "Real Estate Developer". Katz has Richard DeMatteis as a "CEO", not as a Real Estate Developer. Of the 200 contributions listed as CEOs, most are in real estate, law or banking. Many other listed professions that should have been specified as real estate include: Architect, Broker, Builder, Contractors, Developer, Director, Engineer, Management, Owner, Partner, President, Principal, and Self Employed. One of the contributors to Katz, Arthur Zeckendorf the famous developer, is listed as an Exec. As is the contribution from Benjamin Development Co. and tens of dozens of others. Yassky has a contribution from Continental Ventures Realty which is listed as "Managing Partner". Of the 400 contributers listing their occupations as executives, many are developer’s lawyers and bankers. Talk about cooking the Comptroller books, Katz has a contribution listed as "Self Employed" and another contributer from Two Trees Mgmt listed as "Director" for his occupation, when in fact everyone knows that Two Trees is a very famous real estate development company.

Michael Lazar head of the famous Wall Street Company is listed not as a banker or financier but as chairman. We are also talking about Wall Street contributors who can now be listed as unemployed since their company Lehman Brothers went out of business. They have contributed $2000 to Yassky, $100 to Katz and $175 to Weprin. Employees of the nationalized Citigroup have also given campaign money to all three candidates – over $10,000 to comptroller candidate Weprin alone. Contributors from Bank of America gave to both Yassky and Katz. Most of the bailout banks on Wall Street have contributed to the three Comptroller candidates. Pay to play?

Most of the contributions came from Manhattan (1820). The second highest borough total is the home borough of both Katz and Weprin, Queens (1280). Brooklyn gave 956 total contributions, and only 64 came from the Bronx with 45 coming from Staten Island. Two thirds of the contributors who gave the maximum contribution came from Manhattan, 131. 39 came from Brooklyn; 15 from Queens; 4 from the Bronx and none from Staten Island. 21 maximum contributors listed their occupation as homemaker, 4 as housewife, 10 as retired and 4 as unemployed.

Despite the fact that there are ongoing investigations of former Hevesi Consultant Hank Morris (for receiving over 25 million in fees - allegedly for helping a financial firm get contracts with his former campaign client), and a recently started investigation of some Bronx consultants (who were allegedly receiving kick backs from the state’s comptroller’s office), consultants continue to contribute to and work for the three major candidates. Lobbyist Joni Yoswein's company gave to all three candidates. Lobbyists Capalino & Company also gave to Katz, Weprin and Yassky. It is actually difficult to track all the lobbyists who contributed to the Comptroller. For example, Connelly & McLaughlin's contributions were listed as coming from an Attorney on one filing and listed as "Govt. Relations" on another, with still others listed as EVP (whatever that means). Other lobbyists who contributed to the comptroller's races include Patricia Lynch Assoc. (Katz), Tonio Burgos Associates, Bolton St. Johns, Parkside Group, George Arzt Communications Inc. and Rubenstein Assoc.

Despite hard times, City Council members still get big stipends for leadership positions.

Road to City Hall 'JUDAS' MORGY BACKS CY OVER AIDE *** Morgenthau’s Top Aide, a Possible Successor, Offers Resignation *** DA Morgenthau's top deputy quits over support for rival *** Rockaway Resentment May Tip Special Election to Republican in Queens *** Schneiderman’s DA Quandary *** The Outsider - What Tony Avella thinks he is doing running for mayor *** Kappstatter: An Espada eying Rubencito's Albany seat? *** Former Councilman Pedro G. Espada (son of Sen. Pedro Espada Jr.) is considering a run for Assemblyman Ruben Diaz Jr.'s seat if he wins the BP special election *** Seabrook In BP Race, But Diaz Sr. Predicts Bronx 'Unity' *** Morgenthau Confirms Top Aide's Resignation

Albany GOV'S $48B PENSION FIX *** POLS HAGGLING ON RIVER TOLLS *** GOV RUNS INTO FOTO FLAK - taking heat for posing in running shorts in his Manhattan office *** Marist Poll: Paterson Plunges 20 Points In One Month *** Plunge in poll puts Paterson in the danger zone *** Paterson’s Approval Rating Plunges to Record Low *** State AG: AT&T will pay $2.6M for deceptive offer *** State pays Medicaid claims of out-of-staters *** Senate majority leader gets copy of MTA audit *** 14,000 N.Y.ers double-dip into Medicaid pot ***
2B 'OVERCHARGE' SHOCK - Each New Yorker overpays $114 a year for electricity thanks to state policies that set the highest possible prices for power *** Embracing Senate Democrats, Skeptical of Bloomberg, 1199 Sizes Up New Role *** Paterson renews challenge for health care debate, shows some trademark humor *** WFP invokes Simpsons’ Mr. Burns in ‘Fair Share’ fight *** Gov's approval rating hits historic low *** Stars lobby Albany to renew tax credits benefiting film industry *** Editorial: It's up to you, Malcolm--Flat broke, the Metropolitan Transportation Authority is on the verge of imposing a 23% fare hike and drastic service cuts. Only the Legislature has the power to avert this disaster DN Ed *** The IG's office has ordered an investigation of the state Insurance Fund *** Albany Cozies Up, Quick, to Andrew Cuomo *** Albany Takes Step to Repeal Rockefeller Drug Laws

Stage of Fools: This is the first pork-filled federal budget from a new president who promised to go through the budget “line by line” and cut pork - Dowd, NYT

President Obama THE MARKETS' MESSAGE FOR THE PREZ *** O GOES FOR 'SPEND' LOGO *** Obama to outline plan to cut wasteful spending *** Obama tries to pump up confidence in the economy *** Obama: Wall Street Bargains Are Out There *** This Time I Really Mean ItObama lets Congress have one last pork supper *** Good Riddance, Yucca MountainObama pulls the plug on the nuclear industry's last best hope ***Obama Gets Strong Support in Poll *** PoliticsWATCH: White House Hits CNBC Again *** Obama Reconsiders Gays in the Military *** O'S MIDEAST LEADERSHIP VACUUM *** GOP: BAM COOKS THE BUDGET BOOKS *** Obama to Tap Tech Adviser as FCC Chief *** Obama: This is a good time to buy stocks *** Siris: Be skeptical of Obama's advice *** A New Vision for Government - San Francisco Chronicle *** When Will Obama 'Get It' on Earmarks? - Washington Examiner

Congress British PM urges faith in free markets to Congress *** Democrats reach deal on mortgage relief bill *** Senate ignores McCain, keeps thousands in earmarks *** Reformer Wins Rahm Primary - Mike Quigley, commissioner of Cook County, took 22% of the vote in a crowded field despite lacking both campaign cash and union support *** BusinessBailed-Out Banks Still Donating Large Sums To Campaigns *** Ryan Grim Pelosi To House GOP: Be Thankful For What You Have *** Knighthood for Kennedy *** Introducing the 'Victory in Iraq' Bill *** Democrats Pull D.C. Voting Rights Act... Developing... *** Dems beg GOP to cross aisle for straphangers *** John McCain's anti-earmark effort failed *** Minority Leader Limbaugh - David Plouffe, Washington Post *** Moderate Dems Feel Sticker Shock on Obama Budget - Manu Raju, Politico *** Vote 'No' on Omnibus Spending Bill - Sen. Evan Bayh, Wall Street Journal *** Obama Gives Brown a Chilly Reception - Dana Milbank, Washington Post *** Dem Senators Condemn AIG Secrecy - Elana Schor, TPM *** Britain to Knight Sen. Ted Kennedy
Gordon Brown Surprised Congress Today
With Announcement to Knight Kennedy

Obama’s Ball and Chain: I fear that President Obama’s first term could be eaten by Citigroup, A.I.G., Bank of America, Merrill Lynch, and the whole housing/subprime credit bubble - Friedman, NYT *** Bernanke Frustrated Over AIG Rescue.

Remember Spitzer in 2005 Spitzer sues AIG, former CEO Greenberg - Corporate scandals- - accusing the nation’s largest insurance company and two former top executives of using “deception and fraud” to boost the company’s stock price *** Spitzer Sues AIG, Greenberg, Smith - - *** Greenberg Claims He Was Deceived By AIG - ***Spitzer to probe AIG workers' comp payments - Corporate scandals ... *** AIG gets subpoenas from SEC, Spitzer (Corrects) - MarketWatch *** - Spitzer, SEC Subpoena AIG - Business And Money ... *** Law Blog - : AIG's Greenberg: Spitzer's "a Thug" *** Spitzer Forgoes Charges in AIG Case - Los Angeles Times *** Spitzer Files Lawsuit Against AIG and Executives for Fraud *** Managed Care Matters - Spitzer now investigating AIG CEO *** Greenberg Opens Attack On Spitzer, Allegations - After months of public silence on his legal troubles, onetime insurance industry titan Maurice R. "Hank" Greenberg lashed out at his main antagonist, Eliot L. Spitzer, accusing the New York attorney general of misusing his broad legal powers for political gain *** Hank Greenberg At War *** Merrill's Top 10 Earners Made $209M In 2008 *** Madoff Attorney Receiving Death Threats.

Spitzer Vs. NYSE Jack Welch, the former head of GE, said he was told to tell Ken Langone — embroiled in Mr. Spitzer’s investigation of former NYSE chairman Dick Grasso — that the AG would “put a spike through Langone’s heart.” Spitzer’s fall *** Spitzer sues Grasso, NYSE over $187M pay package - May. 24, 2004 - The civil lawsuit, which also names former NYSE director Kenneth Langone, came after a four-month probe by Spitzer's office determined that. . .

A Case for Inspector Clouseau What Role did Langone Play in Spitzer’s Fall? Conspiracy theorists are having a field day with the Eliot Spitzer story, and they have good reason: Wall Street titan Ken Langone, one of Spitzer’s archest of enemies, made it sound as though there’s more to the story. Check out this transcript from a CNBC interview with Langone that aired March12,2008: CNBC: Would you say that you were surprised by this news? LANGONE: Not at all. I had no doubt about his lack of character and integrity. It would only be a matter of time, I didn’t think he would do it this soon or the way he did it. But I know for sure he went himself to a post office and bought $2,800 worth of mail orders to send to the hooker. CNBC: How do you know that? LANGONE: I know it. I know somebody who was standing in back of him in line….

Wall Street Mess Auto Sales At 27-yr. Low For Crash-test Dummies *** BEN: I'M FED UP,TOO: BERNANKE TELLS SENATE PANEL HE'S MAD OVER AIG *** Ben Bernanke Is Angry About AIG *** Investors Throw In the TowelToday's Papers *** Job Losses Show Breadth of Recession *** Interactive Map: The Geography of a Recession *** Ex-Leaders of Countrywide Profit From Bad Loans *** Stimulus Spurs Road Projects, Big and Small *** So You’re Dead? That Won’t Stop the Debt Collector *** Economix: Tax Rate Fallacies *** Fed Chairman Backs Call for Higher Spending *** Chip Makers Watch Sales Fall Sharply *** Man Charged in Loan Fraud Is Linked to Ponzi Scheme *** An Eye (Many Eyes) on the Stimulus Money*** Helping Students, Not Lenders -NYT Ed *** A.I.G.: Rage Against the Machine *** Fed Chairman Backs Call for Higher Spending *** For Swiss Banks, an Uncomfortable Spotlight *** A.F.L.-C.I.O. to Support Nationalizing Banks *** Pressure Grows on UBS Before Senate Hearing *** Europe Backs Tariffs on U.S. Biofuel Imports *** Pending Home Sales Hit New Low, Realtors’ Index Shows *** Oil Steady Above $41 as Investors Eye Inventories *** Bonds Rising in Popularity *** Secrets of Airline Ticketing *** U.S. banks in big Brit shareholder's crosshairs *** Trump, lenders in temporary truce on lawsuits *** Execs From Disgraced Subprime Lender Start New Firm To Make Money By Buying Bad Loans *** The Next $1 Trillion Bailout? Public Pension Funds *** Bailed Out AIG Spending Millions On Four PR Firms, In-House Team *** BusinessFinancial Scams On The Rise As Economic Suffering Spreads *** NEW CHARGE IN MORTGAGE PLOT *** Finance Groupies Reevaluate Priorities *** The World According to TARPIf banks don't like the scrutiny that comes with bailout funds, why don't they just return the money? *** Merrill's $10 Million Men *** New Plan for Toxic Assets *** GM urges EU states to come to its aid; Carmaker says 300,000 jobs at risk... *** NBCWSJ Poll: 6 in 10 Americans worry government will spend too much... *** Bernanke: May Need More Than Approved $700B to Fix Banks... *** All Virgin Megastores in USA to close by summer... *** Madoff hearing's nixed; deal next? *** Bulls or bears, to Queens man, it's just bull *** Ford, GM, Toyota sales plummet *** AIG gets sued by its former CEO *** Can we call it a Depression yet? *** To Nationalise or Not – That is the Question - Martin Wolf, Financial Times *** Geithner's Testimony to House Ways and Means - Timothy Geithner

International Abbas to ask Clinton for help on settlement freeze ***
Clinton Goes to Palestine
*** Arrests Announced in Pakistani Cricket Shooting *** OBAMA CONDEMNS ATTACK *** Clinton Meets West Bank Palestinian Leaders *** Bits: Lighting Up the Darkness in Rural Africa *** World Stock Markets Rise Amid China Stimulus Hopes *** Syria Talks Signal New Direction for U.S. *** Russian Welcomes Letter From Obama *** Collecting Houses in Northern Italy *** Property Values: For Sale in ... Belgium *** A Sign of Hope for China's Economy *** New Trial of Ex-Tycoon Begins in Russia *** Mexican Army Sweeps Into Juarez *** WorldSarkozy Death Threat: Bullet Mailed To French President ***Hil wooing Syria to nix Iran nukes *** Pakistan Must Confront Its Enemy Within - Daily Telegraph *** Press Conference with Secretary Clinton & FM Livni - Hillary Clinton *** Pakistan Is Steadfast Against Terror - Asif Ali Zardari, Wall Street Journal

Media Mess Arena Magazine Is Today’s Only Media Death *** Amazon to Sell E-Books for Apple Devices ***Cable Companies Target Commercials to Audience *** The CBS-affiliate TV station in Syracuse is dropping most of its news operations and cutting 40 jobs.