Sunday, April 18, 2010

True News Update All Weekend

Albany Everywhere a ripoff

Attorney General Andrew Cuomo's probe of corruption in the state pension fund makes it clearer than ever that Albany is a cesspool of pay-to-play politics. . . . When Los Angeles-based money manager GKM hired Morris in 2003, for example, it was a young company with $14 million in assets and "virtually no track record," Cuomo's office says. Hank Morris worked his magic and - presto! - GKM was handling $800 million within two years. . . When Steve Rattner was angling to win Quadrangle a pension fund contract, he not only paid Morris a cool million but also helped finance "Chooch," a cheesy movie produced by the brother of a top pension fund official. Cuomo's settlement further reveals that Morris leaned on Rattner to donate to Hevesi's campaign fund, and Rattner responded by hitting up a couple of friends to contribute $25,000 each. His reward? A $150 million investment from the pension fund. Quadrangle rebuked Rattner, saying his actions were "inappropriate, wrong and unethical." . . . DiNapoli more than tripled an investment with a firm called InterMedia after a meeting in his office brokered by lobbyist and former Bronx Democratic boss Roberto Ramirez. Also apparently in the room was a partner with Global Strategies Group - a lobbying and political consulting firm well known for its high-profile clients, including Eliot Spitzer and Cuomo. (DN Ed) * Firms needed to play politics to do business with NY state pension fund under Controller Alan Hevesi * In Consulting Group, Hints of How Albany Works - Common Cause

Election 2010 Spitzer Antagonist Advises Ex-Madam’s Campaign

How Many American Lost There Home Because of Goldman? What was Goldman's Role in the Pension Fund Corruption?

Schumer and Bloomberg at odds over Wall St. reforms * If Goldman was Crooked, Wall Street's in Big Trouble (CBS)

SEC nails Sachs for 'toxic' dump * Goldman fall guy * What Goldman's Conduct Reveals * A Wall Street Invention Let the Crisis Mutate * Investor Who Made Billions Not Targeted in Suit * A Goldman Rebuttal * U.S. Charges Goldman With Subprime Fraud * Paulson Found a Partner in Goldman *Goldman Sachs warned of suit nine months ago: report * Government's Fraud Charges Also Shine Spotlight on Rating Agencies that Contributed to Financial Meltdown, Analyst Says * Goldman Case Likely To Spawn Torrent Of Lawsuits SEC Civil Suit: Company Failed To Disclose Conflicts Of Interest In Mortgage Investments * Scandal devil a hospital angel * For Goldman, a Bet’s Stakes Keep Growing * Fabrice Tourre and John Paulson lead Goldman Sachs into subprime mortgage fraud * Mass Lawsuits Coming In Goldman Case * Obama promises Wall Street regs * Hedge fund manager in Goldman Sachs case is major Democratic donor * They Saw the Goldman Fraud Suit Coming—Could Deutsche Bank Be Next? (Vanity Fair)

WFP Also Attack on Wall Street Wall Street lobbyist are not only busy in Washington trying to stop financial reforms that will cost them money, they also must spread the money around in Albany to make sure idea to increase taxes on bonuses and stock transactions. Is Paulson still giving out money to pols? WFP is milking the issues for all they're worth * Goldman suit figure touted, fundraised for ally Schumer * Lobbyists and Lawmakers Bond During Springsteen Concerts * Simon Johnson: John Paulson Should Be Held Accountable For Goldman Fraud Huffington Post (blog)

Albany Watch
The Whole Ravitch Rescue State lawmakers must adopt all of Lt. Gov. Richard Ravitch’s plan * Newly Signed NY Open Government Laws Draw Skeptics

OTB Won't Die
NYC Off-Track Betting Rescinds Shutdown Order, Delays Layoffs * OTB Board Reaches Deal To Keep Business Open Another Year

Albany Designed Rip Offs For shamelessness, it sure is hard to beat Assemblyman Richard Gottfried, who moved this week to -- get this! -- help Medicaid fraudsters evade detection. Fraudsters' pal in Albany (NYP Ed)

Election 21010 Community organizer challenges Espada for district seat * Espada Up in Smoke? Connecting the Dots. (Boogie Downer) * More Legal Troubles Surface For Senator Espada

Kimani Brown waited in the rubber room for 1 1/2 years; he hopes for faster justice for others

Terrorism TSA to Assist NYPD with Subway Security * 'Security' insecurity Terror trials are back (NYP Ed) * The 'tip' imam walks (NYP Ed) * Gates Says U.S. Lacks Policy to Curb Iran’s Nuclear Drive

Law and Order 'I'm just sorry he's not dead' *Cop-slay alliance smashed * Two Men Found Shot, One Fatally, in the Bronx *Man Is Arrested in Shootings From a Crown Heights Rooftop *104 Are Arrested in Connection With Crips-Bloods Alliance *Bloods and Crips alliance in plot to kill cops discovered in drug and gun ring takedown * Parolee killed boy over $2 * Rockaway teen's slay sparks gang takedown * Lack of security at New York parole offices is invitation to tragedy

More T&A from NY1
Jury hears breasts were a top topic for NY1 executive Steve Paulus in sexual harassment trial
Company, lab director admit to faking concrete tests

Liu says mayor wants to take over Battery Park City

Media and New Tech ZUCK! NBC Posts Big Loss On Olympics *White House all a-Twitter to 'control the message'