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Fri Apr 18, 2014, 03:10 PM

Chris Christie’s $300m pension proposal broke state anti-corruption laws

Source: Pando Daily

Chris Christie’s $300m pension proposal broke state anti-corruption laws (And now the intended recipient threatens to sue Pando)

A PandoDaily investigation has discovered evidence that Gov. Chris Christie’s pending deal to award a $300 million pension management contract to a controversial hedge fund is in violation of state anti-corruption laws.

New Jersey state pay-to-play statutes prohibit state contractors from directly or indirectly financially supporting the election campaigns of state officials. Those statutes also explicitly prohibit the use of outside groups or family members to circumvent that ban.

Additionally, separate Department of Treasury rules appear to prohibit public pension contracts from being awarded to investment firms whose employees have made significant financial contributions to political entities organized to operate in New Jersey state elections. Those laws also bar investment firms doing business with the state from making contributions “for the purpose of influencing any election for State office.”

Yet, late last month, the New Jersey State Investment Council moved to award a controversial $300 million investment contract to Chatham Asset Management, despite the fact that Chatham’s principal, and a woman living at his address and sharing his surname, donated more than $50,000 to a Republican election group that oversaw major portions of Gov. Christie’s 2013 re-election operation. The proposed investment is already highly controversial given the hedge fund also reportedly owns a stake in the Atlantic City casino, Revel.

Read more: http://pando.com/2014/04/18/chris-christies-300m-pension-proposal-broke-state-anti-corruption-laws-and-now-the-intended-recipient-threatens-to-sue-pando/

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Arrow 15 replies Author Time Post
Reply Chris Christie’s $300m pension proposal broke state anti-corruption laws (Original post)
kpete Apr 2014 OP
hollysmom Apr 2014 #1
onehandle Apr 2014 #2
olddad56 Apr 2014 #3
Half-Century Man Apr 2014 #4
WillyT Apr 2014 #5
edhopper Apr 2014 #6
SoapBox Apr 2014 #7
Hoppy Apr 2014 #9
cheyanne Apr 2014 #8
blkmusclmachine Apr 2014 #10
JoeyT Apr 2014 #14
Historic NY Apr 2014 #11
cosmicone Apr 2014 #12
Stuart G Apr 2014 #13
Mondavi Apr 2014 #15

Response to kpete (Original post)

Fri Apr 18, 2014, 03:23 PM

1. DUH

all corruption all the time.

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Response to kpete (Original post)

Fri Apr 18, 2014, 03:39 PM

2. NIXONIAN CROOK! NT

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Response to kpete (Original post)

Fri Apr 18, 2014, 03:44 PM

3. the state of New Jersey has anti-corruption laws?

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Response to olddad56 (Reply #3)

Fri Apr 18, 2014, 03:58 PM

4. From long ago, sort of like a hearing trumpet.

Yeah it's there and still technically operational, but who would want to use it in this day and age?

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Response to kpete (Original post)

Fri Apr 18, 2014, 04:00 PM

5. K & R !!!

 


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Response to kpete (Original post)

Fri Apr 18, 2014, 04:07 PM

6. Money to his cronies and

contributors. But cancel the single most important public building project in decades (NJ?NY tunnel).
Why did he get re-elected?

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Response to kpete (Original post)

Fri Apr 18, 2014, 04:43 PM

7. Rotten, rotten, rotten...to the core.

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Response to SoapBox (Reply #7)

Fri Apr 18, 2014, 05:17 PM

9. He got re-elected because he put the public unions in their place.

 

Instead of looking to build everyone up, the public was jealous of the benefits the public employees received.

I point out that he was joined by Democrats in his attack on the public employee unions.

The union leaders, instead of proposing a vote on a general strike authorization, told the members to suck it up.

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Response to kpete (Original post)

Fri Apr 18, 2014, 04:51 PM

8. This will be a nice foundation for the building of the

crispie creme cake, which will soon have another layer of corruption (Samson at PA) plus an overlay of GWB intimidation, and perhaps topped with federal indictments for the bridge closure.

I'll start chilling the champagne.

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Response to kpete (Original post)

Fri Apr 18, 2014, 05:28 PM

10. MUST. LOOK. FORWARD?

 

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Response to blkmusclmachine (Reply #10)

Sat Apr 19, 2014, 03:53 AM

14. It's not up to the DOJ to enforce state law.

So now it's really a matter of how many different enforcement organizations are going to end up investigating Christie before he has the sense to go hide.

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Response to kpete (Original post)

Fri Apr 18, 2014, 05:37 PM

11. They better recall him before there isn't anything left .

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Response to Historic NY (Reply #11)

Fri Apr 18, 2014, 06:25 PM

12. No way

 

I want to see him get deflated, little by little each day until .... like an unclamped balloon, he would accelerate in a meandering fashion before falling to the ground completely devoid of any air.

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Response to cosmicone (Reply #12)

Fri Apr 18, 2014, 06:40 PM

13. I want Christie to say, "I am not a crook.".... nt

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Response to kpete (Original post)

Sat Apr 19, 2014, 07:16 AM

15. No immunity for Wildstein as yet so keep stealing....

 

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