Questions are raised about Christie, pension investment
http://www.app.com/article/20140509/NJNEWS11/305090105/
A state pension fund overseen by Gov. Chris Christie funneled $25 million to an investment firm where a Massachusetts gubernatorial candidate is a partner, only months after the man donated $10,000 to the New Jersey Republican State Committee, according to the Boston Globe.
The Republican candidate, Charlie Baker, told the Globe he did not violate New Jerseys pay-to-play laws that bar donations over $250 to political figures who oversee pension funds or to committees controlled by those politicians.
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Baker hooked up with General Catalyst Partners, a Cambridge-based venture capitalist firm, in March 2011. Two months later, he cut the check to the committee during a fundraising visit by Christie in Boston, according to the Globe.
In December 2011, Christies State Investment Council approved the eight-figure investment, according to the Globe.
(snip)
Christopher Santarelli, a spokesman for the state Treasury Department, said that when the state Division of Investments reviewed the financial disclosure information provided by the firm, Bakers name was not on it.
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Oopsie.
Another link:
http://www.bostonglobe.com/metro/2014/05/09/charlie-baker-connection-with-donation-and-millions-firm/qurPDG07LQWQLYnLRQNPfO/story.html
Baker denies connection between donation, investment
(snip)
Baker said Friday that he is exempt from the strict federal and New Jersey pay-to-play security regulations that bar financial executives from making donations over $250 to political figures who oversee pension funds or to committees controlled by those politicians.
(snip)
I am not an employee, Baker said in an interview Friday. I pay for my health care, I dont get a W-2 tax form.
I have no idea who Catalyst solicits funds from, he said. My job was to find interesting companies to invest in and that is what I was focused on.
AT-M Ad
Both state and federal rules extend investment restrictions to political contributors who are associated with the relevant firms.
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Sheesh. Laws are for the little people. /sarcasm off.