Friday, May 1, 2009

Cuomo: The New Sheriff of Wall Street

The New Sheriff of Wall Street

Stay Tuned Says Cuomo

PensionGate Threatens To Clean Up NY Politics

Nobody Asked Me, But . . . NYP editorial board is more interested in Comptroller DiNapoli stopping Albany's trickery than ending one man pension rule that led to the Hevesi abuses DINAPOLI'S DUTY. The Times Editorial is on point with the cause of the corruption:

The Ever-Deepening Pension Mess says If politicians won’t clean up New York State’s pension system, the S.E.C. should do it for them, NYT Ed

As Reported in True News Organized Crime Politics: Comptroller Office for Sale $$$ *** Investors and Developers Control Comptroller's Campaign March 4, 2009 *** Campaign Consultant Lobbyists Cause Corruption *** A Generation of New York Leaders Without Moral Leadership or $hame *** 'GRAFT' JUST LIKE BAD OL' DAYS OF TAMMANY Unregulated derivatives blew up Wall Street; Unregulated campaign consultants have destroyed New York.

Times Editorial The Ever-Deepening Pension Mess So far, the growing scandal has not brought about any serious calls for reform in New York. The state comptroller, Thomas DiNapoli, and the New York City comptroller, William Thompson Jr., have proposed banning pension fund investments that involve placement agents. That is only a start. The state also needs an independent board to help the comptroller oversee investments. Right now, Mr. DiNapoli is the sole trustee of $122 billion. That is far too much power in the hands of one person. Mr. DiNapoli argues that boards, too, are vulnerable to corruption, but they are not nearly so exposed as one lone politician. In the meantime, candidates for comptroller should not be allowed to take campaign money from anyone doing business with the pension fund. A contribution that leads to an investment opportunity is pay-to-play, pure and simple. Mr. DiNapoli has no plans to stop taking these questionable campaign checks until the comptroller’s campaign is publicly financed. Public financing is a fine idea. It also has little chance of approval in Albany. If politicians won’t clean up the system, the S.E.C. should do it for them. Mary Schapiro, chairman of the S.E.C., said this week that she wants her agency to expand its pay-to-play rules to include money managers who contribute to officials like Mr. DiNapoli. Firms that make such contributions would be barred from getting any pension fund business for at least two years. ***

In New Mexico and LA Underway, Not NY
Bills could end pension fund secrecy in Texas *** Wetherly Capital Group tangled in probe of pension fund kickback ... LA Times *** CalPERS moves to beef up disclosure rules for outside marketers.

Only True News Has Reported The comptroller and this year's comptroller candidates have played dumb about PensionGate and refused to clean up the problem or stop accepting campaign contributions from investment firms and developers using New Yorker's pension funds The Silence of the Lions: What the Comptroller Candidates Don't Want You to Know.

Return the Dirty Money
True News calls on this year's comptroller candidate to return money from investors and developers doing business with the pension funds.

True News Says:
About Time Comptrollers DiNapoli and Thompson Drop Aldus
"In the wake of the charges, many Aldus clients were scrambling to sever their ties with the firm. Gov. Bill Richardson of New Mexico, caught up in a public investment scandal in his state, ordered the New Mexico State Investment Council, which manages the state’s trusts, to fire Aldus on Wednesday; the comptrollers of New York State and New York City took similar actions on Thursday. . . We are purposefully and aggressively looking to cooperate with other enforcement agencies across the country,” Mr. Cuomo said. “This is sort of like when you pull a thread on the sweater and that one thread starts to unravel the entire fabric. . . We’re pulling threads and it turns out the other end of the thread is in New Mexico or Connecticut or Illinois or in California,” he said. . . Mr. Cuomo said on Thursday there was more to come. “It’s an ongoing investigation,” he said, “and I would say, ‘Stay tuned.’ ”

NYPOST 300G PENSION RAP AIN'T 'PEANUTS' A "little peanut of a man Saul Meyer" from Texas was charged yesterday with kicking back $300,000 in state pension-fund placement fees to already-indicted Democratic guru Hank Morris. . . Meyer became nervous in 2006 that his secret kickback relationship with Morris would derail a purchase of an interest in Aldus by Deutsche Bank

"Tell that little peanut of a man that I can take the business away as easily as I provided it." Hank Morris

Nobody Asked Me, But . . . is the hedge-fund manager -- who is cooperating with the probe mentioned by Dicker, Steve Rattner? You would think with all the powerful clients and friends that bum has he would find a way to reduce the charges and penalties that he will pay for his involvement in the pension corruption.

Pension Adviser Charged as Cuomo Inquiry Grows
Mr. Cuomo said his investigation, which is continuing, had uncovered what amounts to a conspiracy involving politicians, professional investors and consultants to defraud public pension funds in New York and other states by paying millions of dollars in kickbacks in exchange for access to the funds. Investment firms reap lucrative fees by managing portions of the funds.
“I believe we are disclosing a national network of actors who often acted in concert and did this all across the country,” Mr. Cuomo said.

All in the Hevesi Family "Aldus is accused of helping Daniel Hevesi, Mr. Hevesi’s son, profit from a deal in New Mexico at the same time that the New York comptroller’s office, then run by his father, agreed to increase by $200 million the amount of pension money overseen by Aldus. "

Pay-to-Play Case Widens to Ensnare Aldus Equity *** Albany pay-to-play pension scandal appears national in scope, Attorney General Andrew Cuomo
"I believe we've disclosed a national network of actors who often acted in concert and did this across the country," State Attorney General Andrew Cuomo. . . Cuomo said his office is "formalizing" partnerships with other agencies across the country to share information from individual pension fund investigations. . . Investigators said Meyer paid a $320,000 kickback to Hevesi's top political consultant, Hank Morris, in exchange for Aldus being picked to create and manage a $175 million investment *** NY pension probe broadens in national scope *** New York pension investigation spreads to Texas - *** Dallas investment exec charged in pension probe Texas Cable News ... *** Texas State Employees' Pension Fund Falls Short. Article from ... *** L.A. Pension Baffled by Fees Paid to Firm in Probe (Update1) *** City Pension Probe Latest MyFox Los Angeles

Press Spin During PensionGate
STATE: COME GET YOUR $$ Here's one way to cash in like a celebrity -- find a check in your name registered with the state's unclaimed-funds kitty. State Comptroller DiNapoli's office is publicizing.

Nobody Asked Me, But . . . NYP editorial board is more interested in Comptroller DiNapoli stopping Albany's trickery than ending one man pension rule that led to the Hevesi abuses DINAPOLI'S DUTY. The Times Editorial The Ever-Deepening Pension Mess says If politicians won’t clean up New York State’s pension system, the S.E.C. should do it for them.

Where is Steve Rattner? He was not at the presidents press conference with treasury officials on the car company going bankrupt.

Yes . . What About Morris Other Partner?
Is the hedge-fund manager -- who is cooperating with the probe mentioned by Dicker, Steve Rattner? You would think with all the powerful clients and friends that bum has he would find a way to reduce the charges and penalties that he will pay for his involvement in the pension corruption.

Election/Recession Year
Positive Spin
RELIEF FOR RENTERS Bloomberg predicted yesterday that hikes for rent-stabilized tenants will be a "lot lower" this year than last year's 4.5 and 8.5 percent ***
Next year's city budget will call for 3,750 layoffs -- about half the number Mayor Bloomberg threatened just three weeks ago *** BANDI-DON'T: CITY OFFICIAL'S APOLOGY Bloomberg appointee said lo siento yesterday for writing that swine flu might make the country "get a grip on its banditos." *** Brooklyn vs. Queens: Political reporting Political reporting in Queens *** Mayor Said to Drop Plan to Ask City Workers to Pay for Health Coverage

Road to City Hall Youngest council member settles in From the Queens Courier *** Dueling Endorsements in Race for Mayor *** Dinkins throws support behind Thompson for mayor - but says he likes Bloomberg OK *** Rev. Al Sharpton is fined by the FEC, but feels vindicated by the conclusion of the investigation *** A Bloomberg pollster, Bernard Whitman, writes in Forbes that the marriage equality movement has picked up moment so quickly because, basically, more gays have came out of the closet *** Thompson Says No to Sales Tax, Again *** Senate Dems aim early mail at GOP Senators

The City CHARTER SCHOOLS BOSS VS. UNION BOSS IS NO CONTEST *** NEW BID TO HANDCUFF MAYOR OVER SCHOOLS *** METROCARD SCAMMER HELL-BENT Bending MetroCards to trick turnstile readers into permitting a free ride could send a scammer to the slammer *** CITY CAN HANDLE 1 MIL ILL The city can treat more than 1 million New Yorkers with drugs if the swine-flu outbreak gets much worse *** FINEST'S 'FRISKY' BIZ CARD COPS HANDING OUT 'EXPLAINERS' AFTER PAT-DOWN STOPS *** MAN UP, BIDEN! UNFAZED NY RIDERS: HE'S GONE BUGGY *** FRIGHTENED FLU-FOOL VEEP URGES KIN TO AVOID SUBWAYS & PLANES *** Queens 1 of top 3 dirtiest counties in NYS From NY1 *** City to Greenpoint: So Sorry About That Unfinished Park *** City Commish Writes Stupid, Questionable Post on HuffPo *** NYC restaurants fear a pork pullback *** Kindergarten Waiting Lists Put Manhattan Parents on Edge *** Appeal Fails in Forgery of MetroCard *** Police Get Added Order: Stop, Frisk and ‘Explain’ *** U.S. Sues City on Iraq Veteran's Behalf *** MTA workers throw door open to fare-beaters *** Chinatown businesses exploited on city-owned property *** Teacher gets detention for using N-word *** Gowanus Canal clean up tab for city? *** Bend MetroCard & court trouble *** City calls for brain trust to develop swine flu vaccine *** Cops get mean, green machines NYPD Green? The Police Department rolled out 40 new alternative-fuel vehicles *** DA indicts 2 ex-payroll company executives in $1.7M Ponzi scheme *** Building collapse at Manhattan construction site *** Yoav Gonen watches the Randi Weingarten-Eva Moskowitz debate *** Two Years Later, the Other 126 PlaNYC 2030 Initiatives

NY Economic Melt Down BID TO PUSH NICKEL BAGS The city is moving closer to a 5-cent tax on plastic bags *** Global recession wave slams NY ports *** NY ports see cargo traffic decline *** Luxury hotelier abandons NYC *** Subway Late-Night Service in Danger? *** Law would cost you some paper if you chose plastic *** Bloomberg To Outline New Layoffs, Sales Tax Hike *** NYC Budget: Sales Tax Hike, Cuts

Albany PATERSON BURNED BY A RACIAL 'FIRE' 300G SETTLES SUIT BY WHITE FOTOG *** GOV'S $ECRET MTA PLAN IS REVEALED *** M.T.A. Plan Is Said to Relieve Cost on School Districts *** MTA rescue talk gets on fast track *** Top Judge Plans a Task Force on Wrongful Convictions *** Seven lawyers from the Dept. of Taxation and Finance face dismissal amid allegations they manipulated civil service practices to secure tenured government jobs after the Pataki era *** Cuomo is asked whether his quest against Wall Street is politically motivated. (He says “of course not.” *** The state Senate considers backpedaling on the bottle bill *** Paterson urges the U.S. Department of the Interior to allow two Indian casinos in Sullivan County *** Chief Judge Jonathan Lippman creates a task force to study wrongful convictions *** George Marlin also calls for state GOP Chair Joseph Mondello to step down *** Malcolm Smith and David Paterson are pursuing parallel tracks for an M.T.A. deal *** State Senator Joe Griffo is mad about an increased tax on beer and wine *** For all the talk, property-tax relief is not immediately coming, people realize

Pay to Play Ex-Congressman Says Campaign Manager Embezzled Funds *** Attorney General Andrew Cuomo subpoenas contracts won by clients of firm tied to Sheldon SilverRead more companies that have won state contracts using Patricia Lynch Associates as their lobbyist *** Cuomo On 'The Wild West' Of Government Relations *** But for the Grace of Assembly Dems, There Goeth The State Comptroller

President Obama SOUTER TO STEP DOWN OBAMA WILL MAKE FIRST SUPREME COURT PICK *** What comes next: Filling a Supreme Court vacancy *** Analysis: Auto deal extends Obama's reach, risk *** White House Aide Caught Flu During Obama's Mexico Trip *** Joe Biden Panicmongers Over Swine Flu *** Did Geithner Deserve Beautiful People List Nod? *** Souter Said to Be Leaving Court in June *** Retirement Offers Obama First Chance to Nominate Justice *** Obama Brings a Hands-On Style to Details, Big and Small *** Justice Souter Will Retire From Court *** At Treasury, Big White House Role *** Biden bungles flu warning: says to stay off subways, airplanes *** Print-blog tension in the White House press room? *** Is Rahm Running the Treasury? *** Gates: No Place for Gitmo Prisoners *** Souter Replacement Speculation Begins - Robert Barnes, Washington Post *** NYC Financiers Solidly in Charge Under Obama - Jim Pinkerton, US News *** Swine Outbreak: The Vice President Isn't Helping - Washington Post *** PBS Townhall on Obama's 100 Days - The NewsHour *** Who Would Replace Souter - Marc Ambinder, Atlantic *** Ladies First to Souter's Seat - Kate Klonick, True Slant *** Souter, Obama, and the Court... - Steve Benen, Political Animal *** Camera-shy justice stepping down

Congress & GOP MORTGAGE BILL DIES IN SENATE *** Senate defeats anti-foreclosure proposal *** CREDIT-CARD REFORM WINS OK IN HOUSE *** Credit card legislation faces Senate test *** An Affordable Salvation Gradually implementing an emissions-limitation program now might actually help the economy recover from its current slump, Krugman *** Senate Refuses to Let Judges Fix Mortgages in Bankruptcy *** Noonan: GOP Needs Encouragement *** Gates Grilled on Moving Detainees *** Lawmakers Push for BofA Hearings *** Liberal Member Might Stay Until A Nominee Can Be Confirmed *** Replacement Speculation Begins *** Captain Phillips: Just arming crews won't stop piracy *** The GOP After Specter - Kimberley Strassel, Wall Street Journal *** Pelosi: Utterly Contemptible - Charles Krauthammer, Washington Post *** Specter Switch Will Send Ripples Far & Wide - Stuart Rothenberg, Roll Call *** Reports Suggest That Bunning Will Retire - Louisville Courier-Journal *** Ship Captain, Wants Military Protection on the Seas - The Hill

National Swine flu cases pass 100, vaccine promised *** Source: Liberal-leaning Justice Souter to retire *** Justice Souter to leave 'best job' in 'worst city' *** INSIDE WASHINGTON: Taxpayers to get rude surprise *** FEMA Pulls 9/11 Coloring Book *** Goal Is College. Hurdle Is Finding Financial Aid. *** Risk Unclear, Some Fliers Grow Skittish Over Travel *** F.D.A. Orders Warning Label for Botox *** The CIA's Torture Masterminds *** 72-Year-Old Charged with Murder *** America's Health Care Policies Are Sick - Robert Herbold, RealClearPolitics *** 2008 Election Sets a Record for Minority Participation - New York Times

International US panel: Religious freedoms ebbing in Russia *** First Flu Death Provides Clues to Mexico Toll *** Training Afghans as Bullets Fly *** Heavy Battles Raging With Taliban in Pakistan *** Iranians and Others Outwit Net Censors *** 3 U.S. Troops Are Killed in Iraq Clash *** Interactive: Tracking Swine Flu Worldwide *** When Israel Confronted and Rejected Torture Israelis, like the Americans, seemed always to know that abusing prisoners was morally and legally wrong *** U.S. Sees Promising Shift in Pakistan *** Driver in Dutch Parade Attack Dies *** Mexican Film Aims for Global Audience *** China Reopens Border With North Korea to Tourists *** During the Downturn, Regrets About E.U. Enlargement *** Is Baghdad Now Safer Than New Orleans? *** Iraq's Deadliest Month in '09 *** China: Sissy or Superpower? - Thomas P.M. Barnett, Esquire *** Washington and The Iranian Bomb - Der Spiegel *** Europe: Summer Of Anti-Capitalist Rage? - Editorial, Wall Street Journal *** Let Schumpeter Destroy The Banks - Sapienza & Zingales, City Journal *** Africa's Untold Success Story - Tony Blair, The Guardian *** Iran Looks to Latin America - Frida Ghitis, World Politics Review *** Michel Sleiman: Lebanon's Wild Card - Michael Young, Daily Star *** A Way Out of Tibet's Morass - Robert Barnett, RealClearWorld

Wall Stress Mess NYERS RIDING OUT CHAP. 11 BUYERS STAY LOYAL TO BANKRUPT CHRYSLER *** EX-CITI BANKER FINGERED *** PETER MADOFF DENIED $500K IN COURT RULING *** NEW JOBLESS FILINGS DOWN *** GM'S BONDHOLDERS SEEK DRIVER'S SEAT *** BAD NEWS AT EXXON HITS MARTS *** TIME WARP AT THE 'ELLIES' VENERABLE PUBLISHER SHUT OUT AT MAGAZINE AWARDS *** HEAT ON HOLDOUTS TREASURY LEANS ON CHRYSLER DISSIDENTS TO GO ALONG *** SPEED OF BANKRUPTCY DEPENDS ON JUDGE *** MetLife posts 1Q loss *** Monster Worldwide posts 1Q loss *** SEC probing some Schering-Plough trades *** Chrysler CEO stepping down after bankruptcy *** Superstar J.P. Morgan broker seen set to leave *** Chrysler Partners Have Many Goals ***Chrysler Gets an Italian Accent *** Chrysler Files to Seek Bankruptcy Protection *** Citigroup to Sell Japanese Units for $5.56 Billion *** Slump, Debt Dashed Bid to Save Chrysler *** BofA Directors Continue to Back Lewis *** SEC Probes Trading in Schering *** Global Stock Rally Is Strongest Since 1991 *** Motorola Struggles as Loss Widens *** Despite bankruptcy, Chrysler fans say car company will survive *** CEOs Still Living the High Life *** Chrysler Goes to Court - Wall Street Journal *** Government Motors - Chicago Tribune *** Wall Street's Civil War - Noam Scheiber, The New Republic

Media & New Tech Pentagon looks to Facebook, Twitter *** DISNEY IS BUYING STAKE IN HULU.COM *** BITE YOUR TONGUE, SUMNER REDSTONE RIPS NEWSPAPERS AS VIACOM UNRAVELS *** GLOBAL STAKES FOR NY TIMES Arthur "Pinch" Sulzberger faces the uncomfortable task of having to shut down the Boston Globe today if holdout employees refuse to fork over $20 million in savings to his family *** Former Google exec to run AOL ad business *** ABC to Add Its Shows to Videos on Hulu *** Viacom Profit Falls 34%, Hurt by Ad Sales *** Washington Post Reports $19.2 Million 1Q Loss *** Boston Globe Union Asks For Deadline Extension On NYT Concession Talks *** New Yorker, Esquire, Wired, Backpacker Win Big At National Magazine Awards *** Boston Herald Raises Newsstand Price *** Chicago Tribune Got Readers Reactions To Stories Before Publication, Newsroom Protests *** Fox News #1 On Cable... CNN Wins Speech In Demo *** Boston radio host suspended for comments about Mexican immigrants... *** Miami TV station files suit against NIELSEN ratings; Accuses company of abusing power, running monopoly... *** Hospital Pulls Newspaper Ads after Story on Leadership *** New grassroots life for investigative reporting?

People and Places GAL BEHIND 'GOLDEN FLEECE' SUSPECT'S PRECIOUS SMILE *** GREEDY ASTOR SON AN ARTFUL CODGER *** What’s Behind the Wall? world's oldest subway tunnel, a secret hidden steam locomotive, and maybe even the assassination of President Lincoln *** Elizabeth Edwards Writes of John's Affair *** Jewel clerk accused of sitting on $12M in stolen gold told kin of recession anxiety Jewel clerk accused of sitting on $12M in stolen gold told kin of recession anxiety *** New book: A-Rod is a pampered phony *** World's Most Influential person is 21-year-old NY *** Wife hid $800k, sues bank for blabbing *** Twitter celeb shares his passion *** Seeger to Celebrate 90th at MSG with Bruce and Friends

Blog Report CB1 rejects cell tower proposal {Queens Crap} *** Arctic Ice Arrives in Brooklyn {Gothamist} *** Comptroller Scandal: Crony Was Paid For Cohen’s Seat: AG Cuomo by Brian M. Rafferty - Queens Tribune {Lost in the Ozone} ***City Hall In Bed With Big Real Estate {Bay Ridge Journal} *** Gentrification Interruptus {Bay Ridge Journal} *** Your Pal Marty And His Important Work {Kinetic Carnival} *** Water Rate Hike Criticized {Queens Chronicle} ***