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In reply to the discussion: Christie Crime Digest Volume III [View all]Laxman
(2,419 posts)18. Nobody Needs To Know.....
about his sweetheart deals with his high school buddies and big contributors. Public pension investments are for Christie's amusement and profit.
Chris Christie Vetoes Anti-Corruption Law To Limit Wall Street Campaign Cash
The bipartisan legislation on Chris Christie's desk on Monday was designed to stop New Jersey public officials from delivering lucrative pension deals to their campaign contributors. Gov. Christie vetoed the bill -- at the same time his administration faces a new investigation into New Jersey pension fees paid to financial firms, some of whose executives made contributions to Republican groups backing Christie. The legislation also would have required the pension system to fully disclose all Wall Street fees, a provision Christie said would be "disadvantageous."
The bill in question could have complicated Christie's ability to raise presidential campaign money from Wall Street firms currently managing -- and earning fees from -- billions of dollars in New Jersey's public pension system.
Already, a Securities and Exchange Commission rule effectively bars financial firms managing state pension money from donating to governors who oversee pension investment decisions. The legislation Christie vetoed would have strengthened New Jersey's state version of those federal rules at a time when his officials have placed more public workers retirement savings under the management of private financial firms.
The fund managers and investment advisers already must abide by federal campaign contribution laws, Christie wrote in a memo explaining his decision. Because the federal campaign contribution laws pre-empt state law in this area, I cannot approve of such a provision.
The bipartisan legislation on Chris Christie's desk on Monday was designed to stop New Jersey public officials from delivering lucrative pension deals to their campaign contributors. Gov. Christie vetoed the bill -- at the same time his administration faces a new investigation into New Jersey pension fees paid to financial firms, some of whose executives made contributions to Republican groups backing Christie. The legislation also would have required the pension system to fully disclose all Wall Street fees, a provision Christie said would be "disadvantageous."
The bill in question could have complicated Christie's ability to raise presidential campaign money from Wall Street firms currently managing -- and earning fees from -- billions of dollars in New Jersey's public pension system.
Already, a Securities and Exchange Commission rule effectively bars financial firms managing state pension money from donating to governors who oversee pension investment decisions. The legislation Christie vetoed would have strengthened New Jersey's state version of those federal rules at a time when his officials have placed more public workers retirement savings under the management of private financial firms.
The fund managers and investment advisers already must abide by federal campaign contribution laws, Christie wrote in a memo explaining his decision. Because the federal campaign contribution laws pre-empt state law in this area, I cannot approve of such a provision.
read the rest here: http://www.ibtimes.com/chris-christie-vetoes-anti-corruption-law-limit-wall-street-campaign-cash-1907717
Yeah that's it, it's the federal pre-emption question that bothers him!
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I know what you mean.. There's been so much illegality in the christie admin and from christie
Cha
May 2015
#9
my first thought when I saw skinny Wildstein was "the people behind Christie radiation poisoned him"
Backwoodsrider
May 2015
#33
Also known as "Christie's Forty-Seven-Percent-Moment" (Good-natured jabs, my donkey)
rocktivity
May 2015
#50
Is Christie's publicly-financed self-exonerating Mastro report about to come back to haunt him?
rocktivity
Jun 2015
#56
You rock Laxman!!! While the non-memories of "Fitzmas" still hurt, I think this is different...
winstars
Jun 2015
#61
I have said all along, he will never get convicted of any crime. He seems to let others....
Logical
Jun 2015
#73
Christie's latest power failure: Another storm, another self-serving response
rocktivity
Jun 2015
#80
UPDATE: (Hillary Supporter) Jon Bon Jovi Says He Gave (Hillary Opponent) Christie Permission
rocktivity
Jun 2015
#85
Christie Confirms Bruce Is Still His Fave NJ Musician, Gets Ovation From Bruce's Fans
rocktivity
Aug 2015
#98
He's Being Funded By A Tabloid? That Explains Why He's Started Talking Like One
rocktivity
Aug 2015
#99
Didn't Christie just fantasize about beating a woman and then serving her with a subpoena?
rocktivity
Feb 2016
#138