As I read the editorial below I wonder what it was like being a member of the Editorial Board of the NY Daily News and Albany Times Union in 2006 and reading in my own paper and that of my rivals about Alan Hevesi and then going into a meeting an endorsing him for re-election.
As "Defender of the Faith" Cuomo investigation peels away the layers of corruption and exposes the Rich and powerful Democrats.
I wonder how it feels to look into the mirror everyday and know you sold your sole to the those who made millions and millions of dollars off the "Pensiongate" scandal, and then write the editorials like the one below.
Sooner or later the issue of "Endorsementgate" and how D'Napoli was selected and elected by the legislature and what role these Editors and their owners played in the "Pensiongate" scandal.
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Everywhere a ripoff
EDITORIALS
NY Daily News
Saturday, April 17th 2010, 4:00 AM
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.
Two investment firms and three lobbyists agreed to cough up a total of $17 million to the state, the pension fund and federal securities regulators to settle charges that they improperly wangled money from the $129 billion pension fund. Among the key players was President Obama's former car czar Steven Rattner.
The settlements were the flip side of criminal charges that Cuomo has pursued among the inner circle of former Controller Alan Hevesi.
One Hevesi top aide has pleaded guilty, and Hevesi's long-time political consultant Hank Morris stands indicted.
Foremost among the schemers, Morris pocketed tens of millions of dollars as a middleman in pension fund deals overseen by his pal.
It didn't matter whether you were a small startup firm or a seasoned money manager. If you wanted a piece of the pension fund, cutting Morris in on the action was the way to go.
Morris' lawyer brazenly admitted as much in a stunning response to Cuomo's indictment:
"It should come as a shock to no one that 'knowing people' matters, and that individuals with political connections frequently enjoy readier access to government decision-makers than do others."
Ain't that the truth?
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. Morris worked his magic and - presto! - GKM was handling $800 million within two years.
Then there was Rattner, a top Wall Streeter who founded the Quadrangle Group.
When 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."
Meanwhile, Hevesi's successor as controller, Tom DiNapoli says he has diligently cleaned up the mess he inherited. But at least one smelly deal transpired on DiNapoli's watch.
As the Daily News' Ken Lovett reported last year, 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.
DiNapoli mewls that the confab took place before he changed the rules to ban middlemen and other pay-to-play practices.
So what? As Cuomo's investigation proves beyond a doubt, allowing lobbyists and fixers to come within 100 miles of the pension fund is a recipe for disaster.
DiNapoli shouldn't have needed rules to tell him that.
Sh
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THE TRUTH WILL SET YOU FREE SO TELL IT BEFORE IT IS TO LATE.
Before there was the “Oracle at Delphi” there was
Count Vampire J. Machiavelli
VJ Machiavelli
No More Schumer, Pelosi, Rangel,Engel, and Arthur Finkelstein & Co
"After Four Years of Scandals it is time for Levy/Faso/Callaghan/Garcia"