TrueNews: Out of Control Pensions and Spins

Wednesday, July 7, 2010

Out of Control Pensions and Spins

Out of Control Pensions and Spins

When ask why do people rob banks, bank robber Willy Sutton said that where the Money is kept. Pension funds were seen until recently a place where money is kept. With the Wall Street and pension corruption investigations we now know that many of the investments in pension funds are full of junk subprime mortgages. We have also learned that most public pension are underfunded. So what does those who control the media do, go after pensioners who scam the system. The disability scam 55-year-old "Iron Man" triathlete is collecting an $86,000 disability pension from taxpayers (NYP Ed) * Cuomo, Lazio Spar Over Pensions Both agree they are now disproportionate in the public sector compared with what's going on in the private sector and the falling economy. * A Kennedy Steers Clear of PoliticsKerry Kennedy is at pains to steer clear of the campaign of Andrew Cuomo (WSJ)

A judge upheld a federal coercion charge against an investment manager accused of trying to land a pension fund contract by exposing an alleged extramarital affair of state Comptroller Tom DiNapoli’s top counsel.

The Brunomobile
Sampson 49G SUV after 'Brunomobile' rip ALBANY -- State Senate Democrats who bashed Republicans last year for spending $50,000 on a luxury "Brunomobile" have just purchased a new SUV for Conference Leader John Sampson for more than $49,000 ( NYP) * Brunomobile, TV Studio Among State Senate Republican

Trailer Park Press Trash
The Room 9 reporters have been relocated to a trailer outside City Hall.

Feds seeking return of Hassan Nemazee's crooked campaign contributions

The new NYC OTB CEO will earn a whopping $125,000 a month.

Espada Democratic War
Dems can't quit Espada: Move to kick senator out of party is pure grandstanding (DN Ed) * Democrats push to oust Pedro Espada; state Sen. under investigation in Bronx, battles Andrew Cuomo (DN) * Richard Lipsky thinks the Democrats are being awfully selective in their outrage against Espada * The TU notes the “official and political overlap” in the move to boot Espada from the Democratic Party’s ranks, but doesn’t come to his defense. * State Sen. Pedro Espada, Jr. says Andrew Cuomo is the driving force behind a push to get him ejected from the Democratic Party.

Prosecutors: Ex-Sen. Joe Bruno Can Go Free During His Appeal

6,900 vetoes set for return

Prized pork barrel measures among bills going back to Legislature; Senate due* Three reasons why we may not need the Legislature

Goo Goos in Hiding?
Whatever happened to budget reform in Albany?

BoE Says It Cannot Afford To Pay For Primary And General Elections Budget battle set against backdrop of executive director stalemate

One Company Left in Bidding for Aqueduct Slot Franchise (NYT) The largest gambling company in Southeast Asia

MTA layoff stuns G.I. in Iraq, worried about family (DN)

Wall St. hitting Schumer where it hurt$ (NYP)

Canceled Bus Stops Were Ticket TrapWhen the MTA shuttered bus stops due service cuts, many New Yorkers thought the silver lining would be more parking spots -- until they saw the parking tickets (WSJ) * Though Stifling, Subway Platforms Cooler Than the Ground Above (WSJ)

Bloomberg Considers Ban on Smoking in Parks (WSJ) * Bloomberg May Expand Smoking Ban To City Parks, Beaches (NY1) * Mayor Leans Toward a Smoking Ban at Parks and Beaches (NYT)

Ousted state Sen. Hiram Monserrate reunites with girlfriend Karla Giraldo post assault (DN)

Another Round for Tavern on the Green After negotiations to reopen the restaurant under new management collapsed, the city will ask for a new round of proposals. (NYT)

Law and Order Son joins the NYPD family after father was shot (DN) * Building violations keep slumlord locked in Tombs (DN) * NYPD Welcomes Newest Round Of Recruits (NY1) * Park jogger brutalized (NYP) * 2 being questioned in Astoria Park murder

Rick Lazio has a press conference with a 9/11 victims’ relatives to call on Albany to “investigate” construction of a Mosque near Ground Zero, which is rapidly becoming a wedge issue for Republicans, Maggie Haberman notes Terrorism NY One U.S. Prosecutor in Brooklyn Is Behind Many Terrorism Convictions (NYT) * Terror suspect eyed Christmas Eve for JFK plot: informant * Officials: Al-Qaida Man To Be Charged In NY Plot (WCBS TV) * Officials: NYC subway bomb plot part of larger al-Qaida conspiracy

Talks on a Rapid End to Russian Spy Ring Case (NYT) * Russian Media Skimps on Spy Story (WSJ) * Prosecutors Fight Bail Decision for Alleged Russian Spy (WSJ) * NYPD's chief spokesperson: I was recruited by KGB (DN) * Newspaper Columnist Charged In Spy Ring To Appear In Court ***PM Update Cases consolidated in NY amid signs of possible deal with Russia

AP IMPACT: Some 27,000 aging, abandoned wells in the Gulf possibly leaking but never inspected - WPI

Media and New Tech Dan Abrams: I'm 'Thrilled' With Where Mediaite Is, Plan To Start More Sites * CNN axes senior editor for complimenting Hezbollah leader: report

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Other Views

On October 15, 1958, veteran broadcaster Edward R. Murrow delivered his famous "wires and lights in a box" speech (VIDEO) The Last Lion of Tammany HOW JIMMY McMANUS, MANHATTAN’S LAST GREAT TAMMANY DISTRICT LEADER, HELPED TO REVIVE HELL’S KITCHEN AND THE THEATER DISTRICT c By James S. Kaplan f On January 13, 2011, the law firm of Proskauer Rose moved into 11 Times Square, which is located on 42nd Street between 7th and 8th Avenues. In moving west to the final building of the City’s Times Square redevelopment, the Proskauer firm joined such other major law firms as Cravath, Swaine & Moore, Covington & Burling, Roberts & Holland, and the advertising firm of Ogilvy & Mather. That such major professional firms, along with a number of newly constructed luxury apartment buildings on 42nd Street from ninth to eleventh avenue and trendy restaurants and off Broadway theaters would be located west of 8th Avenue in midtown would have been almost inconceivable fifty years ago. Tammany Last Stand Continued

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