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In reply to the discussion: Christie Crime Digest-Vol. I [View all]rocktivity
(44,576 posts)267. How the New Jersey State Investment Council Invests
International Business Times: In...2011...Gov. Chris Christie...installed his longtime friend Robert Grady to oversee the state pension funds investments... Grady was...pushing to entrust up to $1.8 billion of New Jersey pension money to the Blackstone Group... But one...of the private equity funds New Jersey was investing in -- a pool of money called Blackstone Capital Partners VI -- claimed among its investors a Wyoming-based company named Cheyenne Capital. That company's list of partners included one Robert Grady. In short, Grady was pushing to invest New Jersey public money in the same Blackstone fund in which his own firm was investing...
The website of Cheyenne Capital lists Grady as a managing director...(and)...as a partner in the firm. New Jersey financial disclosure forms list Grady as having a personal ownership stake in Cheyenne Capital Fund, which made the investment in Blackstone Capital Partners VI. The forms also say Grady currently earns compensation from the Cheyenne Capital Fund. Yet in the section of his financial disclosure forms asking officials to list any direct or indirect interest...in any contract made or executed by a government, Grady did not list Blackstone Capital Partners VI, despite Cheyenne and New Jersey's investments in that fund...
In August 2012, Blackstone Capital Partners VI used money from its investors to finance a deal involving Knight Capital Group...(which)...suffered...a computer glitch...(that) sent share prices plummeting on the New York Stock Exchange... Blackstone had been joined in its rescue of Knight by another firm, Stifel Financial, which later acquired a piece of Knight's trading and sales operations. Among the members of Stifel's board was Grady, according to corporate documents...
The website of Cheyenne Capital lists Grady as a managing director...(and)...as a partner in the firm. New Jersey financial disclosure forms list Grady as having a personal ownership stake in Cheyenne Capital Fund, which made the investment in Blackstone Capital Partners VI. The forms also say Grady currently earns compensation from the Cheyenne Capital Fund. Yet in the section of his financial disclosure forms asking officials to list any direct or indirect interest...in any contract made or executed by a government, Grady did not list Blackstone Capital Partners VI, despite Cheyenne and New Jersey's investments in that fund...
In August 2012, Blackstone Capital Partners VI used money from its investors to finance a deal involving Knight Capital Group...(which)...suffered...a computer glitch...(that) sent share prices plummeting on the New York Stock Exchange... Blackstone had been joined in its rescue of Knight by another firm, Stifel Financial, which later acquired a piece of Knight's trading and sales operations. Among the members of Stifel's board was Grady, according to corporate documents...
Wow, talk about multi-tasking -- pass the superhero cape! But look at the thanks he gets:
...Mr. Grady had an unacceptable conflict of interest that he failed to disclose, said...Assemblyman John Wisniewski, a Democrat who chairs the New Jersey legislatures Select Committee on Investigation. The health of our pension system is of paramount concern not just to (those) who are...or...hope to...collect...their pensions, but also to the entire citizenry of New Jersey who bear an ultimate responsibility to pay those benefits. To find out that the people entrusted with faithfully administering that system are potentially self-dealing for their own benefit is troubling and should be investigated.
In other words, as a high-ranking public official, should Grady be in the employ of ANY private firm, especially one that does business with the public service he's providing? When David Samson was asked that question about running the Port Authority while also running a law firm whose clients did business with the Port Authority, he ended up resigning...
rocktivity
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Let us not forget the DMV in Elizabeth. I'm still "sauced" over that one..LOL...n/t
monmouth3
Jan 2014
#7
Is it your prediction that Christie will be charged with a crime or crimes?
Exciting Trip
Jan 2014
#48
Since I believe that it's DOING something criminal that makes you a criminal
rocktivity
Jan 2014
#50
For the record, I think he should be charged and am cautiously optimistic that he will be
rocktivity
Jan 2014
#54
The New Brunswick apartment tower that got $4.8 million in Sandy relief funds
LiberalEsto
Jan 2014
#65
Next time you write a post like this, put it in its own OP, please , so more people can see it.
pnwmom
Feb 2014
#89
Christie begins an "internal investigation" though he's his own prime suspect
rocktivity
Feb 2014
#94
Christie's problem being, of course, is that Samson reports to him directly
rocktivity
Mar 2014
#130
Christie administration broke law in ignoring greenhouse gas rules, court says
rocktivity
Mar 2014
#162
New York Prosecutors Open Another Front of Scrutiny for Port Authority!
yortsed snacilbuper
Apr 2014
#203
"kicked $10,000 of it right back to the Republican Governor's Association?"
yortsed snacilbuper
Apr 2014
#213
GWB inquiry expands scope, subpoenas files from Christie political strategist!
yortsed snacilbuper
May 2014
#223
Christie and Wrestler "The Rock" Star in Online Pension Reform Video (For Seven Hours)
rocktivity
Jul 2014
#235
U.S. Attorney Fishman: Reports about Bridgegate investigation 'Almost entirely incorrect'
rocktivity
Jul 2014
#238
Gov. Christie Shifted Pension Cash to Wall Street, Costing New Jersey Taxpayers $3.8 Billion
rocktivity
Aug 2014
#241
...After Illinois declared the first privately run U.S. state lottery a failure
rocktivity
Dec 2014
#298