Monday, August 31, 2009

True News: Wolf at Thompson Door, Part II . Avella Opens A Cut

True News: Wolf at Thompson Door, Part II

Tony Avella Opens the Door to the Pension corruption inside Thompson office that True News exposed in April The Wolf at Thompson's Door

When mayoral candidate Councilman Tony Avella was given the opportunity to pose his opponent City Comptroller Bill Thompson a direct question in last night’s first Democratic debate, he according to Robbins in the Village Voice opened up a small cut over Thompson's eye that the comptroller was able to to close. Avella asked Thompson flat-out if he were under investigation for his role in the Pensiongate scandal – specifically because two of Thompson’s top deputies left their jobs in the City Comptroller’s office and then promptly set up a private company which received contracts to manage millions of dollars of the City’s pension fund. Avella also pointed that both of those former employees – Josh Wolf-Powers and Adam Blumenthal – were now major donors to Thompson’s campaign for Mayor.

Thompson denied he was under investigation, but the facts that have come out to date in the True New and the Voice about the Pensiongate scandal cast serious doubt on the plausibility of Thompson’s denial. Wolf-Powers, a former top aide to Thompson, and Blumenthal, who served as First Deputy Comptroller and CFO from 2002-2005, left their jobs at the Comptroller’s office in 2005 to co-found the company Blue Wolf Capital Management right after Wolf-Powers rewrote the rules in the Comptroller’s office to ease restrictions on private money managers gaining access to the City’s retirement funds. In the coming years, Blue Wolf Capital received $60 million from the City’s pension funds to invest, yielding Blue Wolf $500,000 in fees. Subsequently, Wolf-Powers donated the maximum amount of $10,000 to Thompson’s, while Blumenthal gave $4,050 and Blue Wolf Management as a corporate entity donated $4,950.

But what True News reported months ago Wolf-Powers’ central role in the Pensiongate scandal extends beyond this clear-cut illustration of pay-for-play between Blue Wolf Management and the City Comptroller’s office. According to a April 21st, 2009 article in the New York Times, it was Wolf-Powers, when he was still working in the Comptroller’s office, who advised Steven Rattner’s private equity firm Quadrangle Group to hire Hank Morris as his “placement agent” if Quadrangle wanted to get the New York City pension fund to invest money with Rattner’s company. The New York Post revealed on April 23rd, 2009 that Quadrangle subsequently received $85 million from the City pension fund to manage – and failed to report that it had hired Morris as a placement agent. Morris has since been indicted for his role in the Pensiongate fund scandal and Rattner had to quietly resign his role as President Obama’s “Car Czar” under a growing cloud of suspicion about his involvement with Morris and Wolf-Powers.

How can Thompson claim his office is clean, when according to the New York Times, it appears that the Rattner-Morris four-state pension fund crime spree was launched inside Thompson’s office?” As soon as the media starts really probing Thompson’s connection to the abuse and theft of hundreds of millions of dollars of City workers’ hard-earned money, his campaign is going to unravel in disgrace and Bloomberg will win a third term by default. Democrats, have already embarrassed ourselves enough this year with the shameful shenanigans in Albany. Will the City’s Democratic Party crumble in scandal too. Stay Tuned.

Bloomberg is Thompson Death Star (Robins Voice)
"it is a sound bet that they are tucked carefully into the mayor's op research files on Thompson, ready for offering to the rest of the media if necessary this fall. Such spoon feeding is apparently the only way to penetrate the fog at Room 9 in City Hall.) *** Bloomberg Campaign Blasts
Thompson on Pension Fund

Thompson's Pension Pals: A Wound Waiting to be Re-Opened In last week's Democratic mayoral debate, feisty Queens city councilman Tony Avella managed to open one small cut over the eye of his opponent, city comptroller Bill Thompson. It was hardly a bleeder. Thompson closed it quickly. But if incumbent Mike Bloomberg takes aim at the wound, it could easily turn into a nasty gash (Robins Village Voice) *** Some doubt Mayoral hopeful Bill Thompson can escape pension fund scandal mess (Daily News)

Daily News Editorial
Dumb, duh, dumb, dumb: Controller wannabes can't count office's (DN Editorial

The Real Qustion to the Comptoller Candidates that remain unansered
Only True News Asked Will the Corruption in the Pension System Happen in the Future Again? What was run into is a wall of The Silence of the Lions: What the Comptroller Candidates Don't Want You to Know On April 29, 2009 we asked each comptroller candidate and the media the following question, we have yet to receive an answer. OUT OF COMPTROLLER, AS SCANDAL SPREADS, CITY COMPTROLLER CANDIDATES LOOK FOR BIGGER ROCK TO HIDE UNDER *** Everyone is Covering Up the Pension Scandal for Their Own Reasons

How about doing away with money managers like Carl McCall and Feddy Ferrer Mr. Lui? After Pension Story, Katz Says 'No Excuses,' Liu Says Ban Contributions *** McCall's linked to pension fund mess *** After Introduction From Ferrer, Firm Earned $100000 From State ...

Heavy Hitter Rattner Make the Pension Story Hard to Cover for the Media The Times Article Makes no Mention of Steve Rattner a Key Player in the Pension Fund Scandal (Written to be a knock on Thompson as part of the NYT continuing effort to reelect the mayor)"As the city confronts the economic crisis, Mr. Thompson’s oversight of pension investments is a key component of his effort to sell himself as a viable mayoral candidate and a financial expert of equal stature to Mayor Michael R. Bloomberg, a billionaire media mogul and Wall Street veteran."(NYT)Why Rattner not in the NYT article Michael Bloomberg Defends Steve Rattner: “A Great Public Servant ... *** The (Mostly) Charmed Life of Steve Rattner Newsweek Small ... His Relationship with NYT publisher Arthur Sulzberger Will Steve Rattner save The New York Times? - BloggingStocks ***Steve Rattner and 'Gangster Government' Washington Examiner *** Cold Case File: The Missing Daily News Steve Rattner Maureen White ... *** Rattner: Toxic Conflict of Interest; Is the NYT at Risk? *** Cityfile: How Mort Zuckerman Helped Out a Friend in Need *** Deconstructing Steve Rattner The Big Money *** A Scandal Steven Rattner Couldn't Hide from Barack Obama - steven ... *** David Geffen's Attempt to Help or Buy the New York Times Peter ... he says Geffen made the offer via Steve Rattner, the media banker

Will Rattner Walk Like Gov Richardson? Justice for All, Not . . . More Like Animal Farm, Some Pigs are More Equal Than Other Pigs

Road to City Hall RUDY'S SIDE SLAMS SKELOS IN GOP CIVIL WAR *** PATERSON RIPPED OVER 'SILENCE' OF THE DEMS A TOP state Demo crat is blaming Gov. Paterson for the "complete silence" of their party in challenging Mayor Bloomberg in the fall election *** FOR ADVOCATE: NONE OF THE ABOVE (NYP Editorial) *** VANCE FOR MANHATTAN DA (NYP Editorial) *** In Campaign for Top Prosecutor, Candidatce Finds Own Path *** Benjamin: Rudy gets helping hand 'Unholy alliance' of GOP rivals, including Giuliani, unites to stop Ed Cox from getting post *** The Manhattan Establishment Holds will the voters follow? Looks Like all three papers for Vance DN Editorial: Leslie lets loose Leslie lets loose: Manhattan DA candidate Snyder slings mud left and right *** Dan Janison notes Giuliani's going to have some problems if Ed Cox beats Wojtaszek in the chairmanship battle *** Survey USA: Katz Up, Green Down *** “Gov. Paterson can't expect Democrats to support him next year if he's unwilling to support the Democratic Party this year,” warned Stuart Appelbaum.

Media Spins for Mayor's Reelection Bloomy noshes like a regular ol' Joe in Hamptons (DN) and against Thompson Thompson's ex-wife, Sylvia Kinard, dished to Andrea Peyser about her former husband and the beak-up of their marriage *** And act as Jerks Courtney Gross looks at the food habits of the public advocate candidates.

Pay to Play Espada Daily News Editorial: Pedro's peril Let's review: state Senate Majority Leader Pedro Espada has been under investigation for allegedly exploiting publicly funded health clinics for political purposes, for not living in his Bronx district, for flouting campaign finance laws for 10 years and for allegedly shaking down Senate leaders for *** More Pay to Play Pol debunks poll pushed by firm seeking to revamp Aqueduct *** Paterson Keeps on the Sunny Side of Life *** Charlie Rangel Forgot About His House, Too *** Peter Pollak thinks a constitutional convention is a good idea.

HUBS UNGUARDED Blue Seats Save Money? MTA HAS NEW COLOR $CHEME *** MTA DEBIT DEBUTS *** Does the New York Subway System Really Need to Be This Hot? Even the Rich Go Down Recession forces ritzy restaurants to close The latest stodgy dining destination to be shuttered by the recession is Café des Artistes, the upper West Side mainstay *** The overtime gravy train! Handful of state workers are cashing in *** The Next Financial Crisis *** More Ticket Writers, Less Revenue *** Condo and Park Projects Feel the Pinch in Greenpoint

Judge Holds Back Ocean A ‘Little Judge’ Who Rejects Foreclosures, Brooklyn Style


SWINE FLU PIGS OUT ON NY *** Colombian President Has Swine Flu

Washington Cheney Offers Sharp Defense of C.I.A. Interrogation Tactics *** Environmentalists Slow To Adjust in Debate *** New Blitz for Health-Care Reform (Washington Post) *** Senators Say Vicki Kennedy Would Be "Great" Replacement For Husband *** Experts see double-digit Dem losses (Politico) *** Feinstein: Holder should have held off *** Obama to visit New Orleans

Pay to Play Cut Concern Is High That the Mob May Seek a Cut of the Stimulus Pie *** Missing Richard Nixon In the Nixon era, leaders in both political parties were capable of speaking rationally, and decisions weren’t as warped by corporate cash as they are now (Krugman NYT)

Wall Street Mess Bank Deals Put U.S. On Hook for Billions *** Economists Are Split on Inflation *** Frank Said to Back Broader Fed Audits

International Increasing Accounts of Fraud Cloud Afghan Vote *** Japan's Ruling Party Ousted

National New Orleans Sees an Opportunity to Improve on Its Past *** Calif. Garage Sale Nets $1.5M *** Labor gears up for key governors races

Media & New Tech MGM Mirage Taps Name Power In Global Push *** A Hired Gun for Microsoft, in Dogged Pursuit of Google *** Tribune Chief May Remain for the Cleanup *** Wikipedia Looks Hard at Its Culture *** Newsday Rejects Ads by Verizon, Now a Rival c***
Superman Producers' Spat
*** Disney to Pay $4 Billion for Marvel Comics *** Fewer Newspapers Fight to Open Court Proceedings